Reduced stock
Stock listings have not increased meaningfully through the spring selling season, with many vendors opting to stay put.
In fact, capital city listings are at their lowest level for this time of year across half a decade of data.
Source: CoreLogic
Stock listings are tight, overall, with vendors apparently opting to sit pat until next year.
Anecdotal evidence from regional markets such as the Sunshine Coast suggests a significant surge in properties for sale, and declining asking prices (actually big drops in some cases).
Source: SQM Research
I wish I could provide a germane photo to capture the plethora of open home signs, but alas...I was driving.
This dynamic holds true across a number of lifestyle markets, such as the Blue Mountains, and the New South Wales South Coast, for example.
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It's more or less impossible to blog here about stock markets these days without the implied threat of imprisonment from ASIC, but speaking in the most general terms possible, in the US the S&P 500 is back up trading at close to 4,000 again, following a recently rally.
This remains well below the 4,800 level reached around a year ago, but still represents a decent rally from recent lows.
The NASDAQ has jumped by around 10 per cent in a couple of trading days, back to 11,300, but remains well below the bubbly heights of 16,000 seen a year ago.
It would be something of a surprise if tech stocks can hold at these levels over the next few months, with the global outlook souring, and a hawkish Fed likely to take the Federal Funds rate up to at least 5 per cent to crush inflation.
Aussie stocks have been enjoying a relatively speaking brighter economic outlook, lower interest rates, and of course record high commodity prices - and the ASX 200 is trading back up towards its pre-pandemic level at above 7,000.
