That chart may look like a smile, but it's not. It's showing that after being flat for most of the year, Days on Market has increased 20% over the last few months.
Keep in mind the market is cyclical, and November - February is the slow time, so maybe we are seeing homes sitting on the market longer in January as part of the slow season. (Notice that this January is still faster than last January, and 2017 turned out to be a pretty good year.)
This is one we'll have to revisit in a couple of months for sure.
- Chris Butterworth
Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.