Good Evening,
We have seen something that has rarely happened in our market in quite a while. The Absorption Rate for "All Properties" and "Land" went down, while "Residential" went up. That is great news if you actually pour through all of the data. Residential sales are still growing, quickly, but we did have a larger turn in the number of homes that were placed on the market. If you have remembered me say this before, "around March, we see a large number of homes return, or come onto, the market".
Here is a recent article about Pending Home sales…January Pending Homes Sales Up In All Regions WASHINGTON (February 27, 2013) - Pending home sales rose in January, and have been above year-ago levels for the past 21 months, according to the National Association of Realtors®. There were healthy monthly gains in all regions but the West, which is constrained by limited inventory but was slightly improved. To read more about this article, click here:
*For a copy of the most recent Market Update (Market Absorption Rate 2013-03-04), please call or email me at anytime.
Regards,
Broker In Charge/REALTOR, Cash Realty & Cash Custom Homes
Call/Text 828-406-2134
Search 1,000s of Homes Instantly at www.MarcWhiteHomes.com
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