With another week past, it is again evident that buyers are out in force and the market is showing signs of improvement. Pending sales again increased this past week, while inventory across the county decreased. The above observations apply for both single family homes and condos. | 2009 | Single Family Res. | Condos/ Townhomes | | Date | Active 2009 | Pending 2009 | Active | Pending | | 1/5/2009 | 3931 | 1598 | 1461 | 422 | | 1/12/2009 | 3998 | 1615 | 1505 | 456 | | 1/19/2009 | 4081 | 1615 | 1527 | 483 | | 1/26/2009 | 4115 | 1685 | 1525 | 510 | | 2/2/2009 | 4036 | 1705 | 1501 | 520 | | 2/9/2009 | 4177 | 1714 | 1540 | 528 | | 2/16/2009 | 4200 | 1779 | 1513 | 567 | | 2/23/2009 | 4252 | 1795 | 1520 | 572 | | 3/2/2009 | 4224 | 1822 | 1504 | 573 | | 3/9/2009 | 4300 | 1834 | 1501 | 588 | | 3/16/2009 | 4318 | 1919 | 1513 | 592 | | 3/23/2009 | 4286 | 2053 | 1518 | 631 | | 3/30/2009 | 4230 | 2174 | 1487 | 680 | | 4/6/2009 | 4097 | 2274 | 1405 | 719 | | 4/13/2009 | 3927 | 2407 | 1356 | 782 | | 4/20/2009 | 3872 | 2539 | 1312 | 982 | Download a chart of the data from 2004 to present and you yourself can see that it is obvious 2009 is not a normal year. Active and pending home trend lines are converging, already in April when we typically do not see this until late summer, if at all. Also to note from this data is 2009 sales are much higher than they have been looking all the way back to 2004! Inventory is also lower than it was at anytime in 2008 and lower than the peak of summer sales in 2007. Again as I mentioned last week, these are all promising signs that the market is changing and it hopefully means this county is already recovering from the housing slump. I am seeing signs of the change out in the market place with buyers. Many homes under $500,000 are experiencing multiple offers and buyers are already being more forgiving of faults in properties common in banked-owned, REO homes. Can you pull any other conclusions or thoughts from this data? |
