This last week, the market (Folsom and EDH) really seemed to pop. As I mentioned last Thursday, only 2 places went pending (and one of them was new construction).
However, last I checked, 3 places actually came back out of escrow!! That's right, more houses are falling out of escrow than going in this week. It gives a whole new meaning to negative numbers!
As for the rate houses are going under contract....it has declined significantly since I began tracking (starting the first week in February). In early Feb the "Pending Sale" to "Available" ratio was around 35% (so approximately 1 in 3 houses on metrolist was PS). Now it is down to 20%. That's a 15% drop in only 3 months! The reduction is a combination of both increased inventory and a reduction in contracts.
Just a caveat, these numbers are only for the stats I track. Its a relatively small sample size, between 60-80 houses.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment