Total houses for sale 85 (33) with median of $1.95M ($2.35M).
Well after pendings bumped up a lot two weeks ago last week they dropped back down. The 5 pendings in a week matches the lowest figure Ive seen since starting this monitor.
The drop in pendings along with what I will mention next led to an increase in active inventory at a time when it tradionally drops. Thats a little smoke in the market and will have to watch to see if fire follows.
One thing I noticed a couple weeks ago but didnt feel I had enough evidence to write about is fewer sellers seemed to be taking homes off for the holidays. I think I can call that a trend now and a slightly ominous one at that. I can think of two reasons for this. First with prices in decline and less selling, homesellers are less optimistic about waiting for Spring. Second with sales volume down there are hungry agents advising clients to keep trying. I think a little of both is at play here
