Starting off the year with a 15% increase in the number of sales over last January! A good start.
Listing inventory is down 13% from last year, but until we see a change in the closings that has been good. It has been dropping for year but closing has still be good which means more deals are making it to the closing table.
Active listing has been holding at 26% increase from same time last year for a few months. Has not increased.
New homes are just the opposite. hardly a change in the number of active listings compared to last year. But pending contracts are down 33% on new homes from last January. And more so even with the 15% increase in sales for January overall, new home sales were down 38% over last January.
I combined the two price range fields in new homes to one field. under $150,000 and $150,000 to $200,000, were combined to one field of under $200,000. Most the second half of last year we did not have a listing active in the lower price range.
The over million dollar price range for new homes went from over 30 months to down below six months. This comes from the number of active listing being cut almost in half. and actually selling, they were just not changed in the MLS until after the first of the year. First time in years the absorption rate for this price range has been under 30 months.
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