Contracts top 5000!
Statistics for the final week of January....
Pending Sales: 4252 (+ 47 from last week)
Pending + Active W/C 5002 (+69 from last week)
Closed Escrows: 1/28-2/3 954 (+448 from last week)
Active Listings: 55385 ( -131 from last week)
January Closed Sales: 2866
February Closed Month to Date: 204
There was a nasty little surprise in the final sales totals for January that I could have done without, but overall, the numbers are pointing at a much better February and March. The sales numbers were down significantly, due largely it seems from a very poor final week. It makes sense now, as closings are a function of what happened 30 days earlier, and most people were preparing for the holidays. Still, it is disappointing. On a brighter note, the number of new Active with contingency contracts continues to grow, and combined with the pending sales has climbed over 5000 for the first time since I have been covering it. That is exceptionally good data. and just to add a little sweetener to that figure, the number of new listings fell slightly. One week does not a trend make, but maybe we are starting to catch up with the number of listing being put on the market. As I have preached, that is a number that needs to start falling. If we look inside the numbers, you will see that pending numbers also are on the rise, meaning new contracts are more than replacing closed escrows and cancelled escrows. This is important if we are to rebound. I don't like the January numbers, but the rest of the data going forward is stronger than its been in a long time.
No comments:
Post a Comment