Market analysis in October 2008
Thursday, November 13, 2008
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Sales volumes are still much higher than last year, but declining compared with October which is consistent with a normal seasonal pattern. We would not normally expect month to month sales to show growth until February 2009.
The stronger demand we experienced in the third quarter appears to have been dampened by the economic climate, and the slower sales rate is causing a rise in active listings.
Pending listings are high relative to sales, suggesting contracts are either spending a longer time in escrow before closing and/or experiencing above average fall-out rates.
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Posted by Brian on 12:57 AM •
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