MLS STATS 8/4 through 8/10/08

Sorry about missing Tuesday; I had some work to do out of town and it couldn't be helped.


Pending Sales: 7018 ( +400 from last week)

Active with Contingency 1125 ( Last week n/a-Not sure this is valid stat)

Closed Escrows: 1008 ( -1015 from last week)

Closed Month To Date: 1300

Active Listings: 52,659 ( +88 from last week)





SINGLE FAMILY QUICK STATS


Pending Sales: 6,282 ( Last week-N/A)

Active Listings: 43,120 (+53 from last week)

Closed MTD: 1,167


A solid, if unspectacular week. Our pendings are rebuilding after the strong end of July, but the active listings are not falling. I don't trust these stats implicitly; it seems that active still contain AWC as well, even though they are supposed to be seperated in the stats. I don't know for sure, as the only time we get drops in Actives are at the end of the month when there is a huge drop in pendings; I think it may be that some agents classify the AWC as pendings and therefore they go straight from AWC to closed instead of going through pendings. I don't really know, but I am looking for a solution as to why that is.

I am encouraged to see that a large share of closings are still single family homes; if we could pare that number down, at the same time sales rises, we will get back to a market equilbirium much sooner. I think we may not have as many sales in August as July, however. The pendings don't really point that way, as forward looking activity has slowed slightly. It could be because the new MLS system and agents unfamiliarity with it, but it looks like pendings are off their peak, as are AWC.

There was a good article in the AZ Republic concerning some positive signs in the local housing market. You can read it here. Foreclosures may be flattening out. Good article.