The chart has data from the local MLS (Regional Multiple Listing Service). The data is for the city of St. Paul and includes all single family homes and condos that have been listed in the MLS this year. The red line shows how many homes were listed each week and the blue line shows how many homes received offers on them that were accepted by the sellers each week. We call that number "pending sales". Pending sales data is often used to determine the health of the real estate market.
I added trend lines to the chart, well actually I let MS excel do that for me. The lines show that the number of homes listed each week is slowly going down while the number of pending sales is going up, but even more slowly.
These numbers are important. As the lines get closer to each other the supply of homes and the demand will be more balanced and theoretically home prices will stabilize. Last year the number of homes on the market went way up. Supply and demand were out of balance because while listings were going up, sales were going down. This year the inventory has been slowly decreasing all year.
We don't really know how many people would like to sell but have decided not to, or how many people want to buy, and can buy but are not buying. I am not sure there will ever be a way of getting that kind of information. My sense is that there are people who want to sell, and those who want to buy that are not taking any action at the moment. That is based on my own daily contact with home buyers and sellers.