The past week showed continuing strength in many critical numbers. There are some other stats that are less than stellar, so its not all good news, but overal we seem to be picking up steam.
Pending Sales: 5350 ( +241 from last week)
Pending Sales + AW/C: 6275 ( +286 from last week)
Closed Escrows: 726 ( +219 from last week)
Active Listings: 56104 ( -5 from last week)
Closings Month to Date (2/24/08) 2138
Overall, a pretty good week. As you can see, the pendings continue to rise, and even better, the Active with contingency are rising at an even better rate. This means that pendings that close are more than being replaced by new contracts, which points to increasing sales growth. We have also blown past 6000 pending contracts, and that is another great benchmark. This is very nice continued growth. The number that is not so great is the number of closings so far this month. It still seems very light for three weeks through the month. It could finish strong, but its still not to going to look good in the news. The number of pendings dictates that we will start to see stronger sales totals in the very immediate future, though, as most escrows do not run for more than 45 days. The active listings have fallen slightly after growing for quite a few weeks, but did not drop by a lot. Still, it would be nice if this were the peak, and they start to fall. With a seemingly good number of increasing sales, it is very possible this might be the case.
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