Apr 29, 2010

Latest Data is Out - Sales are UP.

Hello Neighbors,

Hopefully this graph of existing home sales will come across well. If not, call me for the data.

What I find amazing is the ratio of homes that have gone PENDING (in escrow) vs. the amount that are on the market. It's gone nuts in the last month or two.

PENDINGs were at a record 2,921 in March - that is several hundred higher than any month since 2008.

While homes on the market have increased at a much slower pace (only 3,963 for the same March measure).

Meaning? There are segments of the market that are absolutely now a "Seller's Market". ...which is how we operated between 2002 - 2005.

Here is the data:

Many thanks,

- Jim





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