Pending Sales 3/4/08 5302 ( -48 from last week)
Pending Sales + AW/C 6226 ( -49 from last week)
Closed Escrows: 1299 ( +573 from last week)
Active Listings: 55827 ( -277 from last week)
Closed in February: 3413
Statistics seem to show that new contract increases have peaked...if that number stays consistent, its actually not bad, but it would be nice to see it continue to climb. It might be that it simply was the end of the month, and new contracts seem to stale a bit at the end of the month. It certainly wasn't much of a drop, so if we can keep this pace, it is a good sign. We will want to watch to see if there are further drops in new contracts. Sales ended up at about the same level as January, which isn't great, but it should mean that March is a good sales month, as there are some aging pendings out there, and they will have to show up as sales eventually.
Additionally, the number of actives has fallen for two weeks in a row. It wasn't a large drop last week, but it would be great to see that number fall further. AWC contracts held pretty steady, so that is a good sign. March will tell us a lot about this year.
chris
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