Debating what we should call this: Cancellation rate? Seller abandon rate? Seller frustration rate? Seller retreat rate?

When home sellers don't get the offer they want, one option is to withdraw the listing. How much are cancellations effecting the market right now? Lots of people asking that question. Here's how I look at it. As a percentage of new listings - how many cancel? Some data:

This chart of remittences to Mexico is wild. via @EricFinnigan

This week in @Compass Intelligence weekly housing market data: Everyone knows that the price pressure is on. Did you know that have been gradually FEWER new listings each week? Sellers are staying away. That implies a cap on inventory growth for the rest of the year. 1/6

Driving and working through some ideas by dictating into Claude and then playing the audio of the replies. Except that Claude’s speaking voice spontaneously, mid paragraph switched into what I think is Mandarin and I can’t get it back to English. 🤓🤣

Your periodic reminder: Revisions are good. They indicate you have a strong process for ensuring quality.

Very happy for this buyer. But I am less enthusiastic about what this means for society.

I'm gonna listen to this just after I finish writing this column and doomscroll some and I need a refresher on my cappuccino and what's that shiny thing over there?

Very lose hypothesis: Layoffs in the west are ahead of the rest of the country. Inventory of homes on the market is growing in the west faster than the rest. California for example has 37% more homes on the market than last year. National is only 27% more. I wonder if they’re related?

#realestateishard