The weekly MLS numbers are mostly encouraging. They are not overwhelming, but they are showing some residual strength in that the good numbers seem to be trending upward, even though we are in a traditionally week time of the year. The fact that these sales figures are holding steady and even growing modestly gives me a little hope that we might see a bit of real strength by January.
Pending Sales: 4209 (+35 from last week)
Pending Sales + Active with Contingency : 4669 (+27 from last week)
Homes Sold: 755 (+227 from last week)
Active Listings: 57769 (+227 from last week)
I would still like to see the number of actives start shrinking; homes are going on the market faster than they are selling. The encouraging number that caught my attention is that even though there was a nice increase in number of sales this week, the number of pendings and actives kept pace. This hadn't occurred in previous weeks when there was a good sale number; when homes were closing, the pendings were not being replaced. This is a good week, then. Hopefully, the end of month sales will finish strong.
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