The National Association of Realtors Pending Home Sales Index rose 4.3 percent from July (79.4) to August (82.3). On a year-over-year basis, however, the index is now down 20.1 percent versus 19.1 percent in July, 18.6 percent in June and 15.9 percent in May.
∙ Pending Home Sales Show Another Gain [realtor.org]
∙ Pending U.S. Home Sales Rise From June But Slide Year-Over-Year [SocketSite]
∙ U.S. Pending Home Sales Down 18.6 Percent Year-Over-Year In June [SocketSite]
∙ Pending Home Sales Plummet And The Markets React [SocketSite]
Here in Ess Eff I see 156 SFR sales in September and 163 condo/TIC sales. Numbers should tick up a small amount with late entries. 2009 sales were 189 SFRs and 227 condo/TICs. So down about 23% YOY. And continuing down from July and August 2010.
And inventory continues to rise . . .
It was funny, I looked at the inventory data a while back and the numbers, even during peak times over the past few years were all over the place and didn’t really seem to show much of anything other than that inventory levels are sporadic. Wish we had more data.