Figures – The first four are the usual plots – very interesting to see that the trend in Short Sales has become decoupled from the trend in total listings.
The last figure is the Active to Pending Ratio plot – This is interesting in that the ratio for Short Sales is slightly higher than for total listings. As has been discussed, these data most likely overstate the true number of short sales, and understate the total listings – the argument all along is that this is only an exercise in watching the trends, not providing exact numbers – Bottom line is that we expect to see this pattern at some level.
The number of pendings is a true number, I assume, so an overestimate of the number of short sale listings would generate a higher than “real” ratio – likewise the total listings is an underestimate, so the ratio is lower than “real” (but probably closer than for short sales?) – so maybe what is interesting here is that these two ratios are so close in value.
In any case, 3 weeks worth of data are hard to say much of anything about – maybe in another month we can really start to say something about it.