The Austin Business Journal just came out with an article today, titled Austin housing inventory stuck at worrying low level, which I thought was a very appropriate title. It left a lot of things out that I thought would be worth commenting on. There are some circumstances that were not touched on in this article.
Number one, we had a new strain of coronavirus, Omicron and it has affected sales obviously and put people that would have been planning on selling in November, December and January out a couple of months. Number two, it was not reported that 8.5% of all sold listings in January were listings sold by Opendoor. It is a staggering number and on the surface, it looks like something very worrying.
What they don't realize is, those are the…
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