A total of three auctions in 8 days! There are still some REO properties listed as active but the banks and auction winners are still hammering out details. I think we will easily get to the 500 pendings in the next two weeks that I was hoping for in the comments from last week's stats
Here is what we are looking at currently with foreclosure listings:
- Listings
(12/9/2007): 2175 - Under Contract (12/9/2007); 436
- Sold (11/1-30/2007): 207
- Month's Inventory: 10.5
Listings since the last report (12/2/2007) have risen by 67 units. Pendings have risen by 59 units. That's a HUGE one week jump! Solds have decreased by 11 units. Monthly absorption has gone up by a month. With the rising pendings I am hoping to see rising sold inventory jump in the next month also therefore lowering monthly absorption provided listings do not go through the roof!
Interesting post Renee. About how many active agents are in your market to benefit from those 207 sales?
Of course a week isn't enough time to tell. In today's market a 10.5 month inventory isn't too bad.
Renee,
Great informative post. I enjoy the facts. Now I am off to work on a post or my profile.
Your FYT,
dione the home advisor
It would be nice to see Vegas come back a bit. Let me know how things are going.
J.
Lynn: I don't know how many agents are "active" anymore. Seems the full timers keep getting busier as more and more agents become part time! Dues are due next month so we will see how many we lose in the meantime!
Lysa: YUP! How unfortunate! I feel I need to keep on top of these so I have conversation available when people ask how the market is!
Dione: THanks for stopping by! I saw your new post, you go girl! Keep em coming!
Matt: That was yesterday
Michael: It is too early to tell and many are agency listings also. That's why we are seeing a rise to the pendings. I am trying to get 411 from our broker's assistant but no info yet. Everything of theirs went but at what prices, don't know!
Neal: I noticed and I likey!
Jeff: I think we will soon but don't know how soon :(
Rey: THANK YOU! That's all I can say too because you said it all. I keep pushing my forecast back too :(
Whew -- you guys are really clearing them out! Keep going.....
Where do you get the stats? Realty Trac, or somewhere else?
Renee,
Pendings up that much is good news. The weakness is still there, though, with listings up and so is the absorption rate. I was hoping that the numbers would start gradually pointing in a better direction.
Ann: These are stats from the MLS
Esko: The absorption in some macros is so high it is mind boggling