Pending numbers today are not the same as pending numbers of 2003-2005, where probably 95% closed.
What percent of pendings are closing today? 60%???
There are properties that have gone pending back to active 3 or 4 times.
I am not discouraged about these numbers, certainly not the La Jolla numbers. These numbers are not as important as the fact that prices are coming down, during the peak buying season.
