Pendings Fall, Sales Rise
Active Rise slightly, AWC start to fall.
Holiday Season variables start to show up.
PENDING: 11,845 ( -277 from last week)
Pending SFam: 10,380 ( -250 from last week)
AWC : 6,384 ( -68 from last week)
AWC Sfam: 5,603 ( -87 from last week)
Closed: 1,878 (+366 from last week)
Closed Sfam: 1,622 (+329 from last week)
Active: 33,631 ( +163 from last week)
Active Sfam: 26,096 ( +134 from last week)
Closed MTD: 4,842
Closed Sfam: 4,180
I am not going to delve too deep into the numbers today; things are clicking along normally for the season. Sales are fairly strong, having risen again, boding well for the end of the month sales to come close to matching a very good October. We are actually ahead of October's pace 4727- 4842 at the same date in the month. I think it will even out though, as we lose two days here this week, and one at the end of the month. We are seeing the decline of pendings, as many buyers aren't as interested in timing up closings for the Holiday season. We are likely to see a light number of pendings until they start to rise in February again. Still, November looks excellent, and we are going to have a strong 2009 in terms of sales. In terms of pricing, well, not so much- but we are seeing consistent improvement, and steadying demand. Hopefully, the strong progress of first time homebuyers, coupled with the tax incentive for move-up buyers, starts to have an effect in slightly higher-priced homes.
I would also mention that nationally we have seen some steadying of home prices per this article at CNBC. Home prices rising this many months in a row means something. We are not in a strong position yet, but we are improving, and that is excellent news.
Have a very happy Thanksgiving Holiday!
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