The beginning of the year is always a busy time but let’s do a quick check and compare activity from just 2 months ago. On November 19th, 2007, I wrote this article that discussed how new homes on market were on par with the number of homes implementing price drops. To update to January 2008 (at least the first few days) here are today’s current numbers for the 24-hour market watch as of this post date/time:
New listings: 903
Back on market: 349
Price Increases: 49
Price Reductions: 459
Contingents: 11
Pendings: 218
Solds: 265
Expireds: 191
Inactives: 219
That’s quite a shift in a relatively short period of time, but it’s not shocking because the first quarter of each calendar year is generally the most busy in real estate particularly for getting listings on the market. Most people ramp up after the holidays.
I’ll be watching the daily numbers and reporting on occasion what we see and if there are any particular trends that occur.
