For the week ending August 21, New Listings in the
MRIS region were down 5.4 percent compared to the
same time last year, with 3,502 new properties coming
on That's the year-over-year the market. That s largest decline
in three months.
The 2,362 signed purchase agreements represented a
2.1 percent increase in Pending Sales. Although
they've been progressively smaller, this marks the first
time since the tax credit ended when buyer activity
posted three consecutive weeks of positive increases.
Sellers still waiting for an offer can anticipate receiving
94.3 percent of their original list price after 72 days on
the market.
While pendings were up, the number of Active Listings
for Sale was down 5.0 percent from last year. The
supply and demand equation for the area's housing
market remains fairly balanced as Months Supply of
Inventory sat at 6.7 percent based on July figures.
