Some of it always is. The test is how this year stacks up against the same month in prior years. New listings rise into spring and summer and fall off in the colder months, every single year. Listings climbing off a winter low tells you nothing by itself; that's the calendar doing what it always does. So line up this year's new-listing count against the same month in recent years. Running noticeably higher means more owners are choosing to sell than the season alone explains. Running in line with prior years means it really is just seasonal. And read it locally. A national listings chart can run hot while your metro sits flat, or the reverse, so pull the same seasonal comparison for your own market before drawing a conclusion about your area.