1st Qtr 2007 – 3,939 sales of SFRs through the MLS
1st Qtr 2008 – 2,880 sales of SFRs thruogh the MLS
We’re racking up less than 1,000 closed sales per month so far.
Current Number of Actives – 12,512
Current Number of Pendings – 3,577
Total number of both – 16,089
Total sales of SFRs through the MLS in 2007 – 15,443
Do the math – we now have more than 12 months of inventory on tap and we’re just a hair’s breadth away from having more REOs coming into the inventory than the total number of sales going out.
We’re so far from stabilizing that we can’t even see the tunnel yet, let along the light at the end of it.
