Sales increased at a rate faster than previous years moving slightly farther away from the "scorched earth" benchmark. Sales are fairly weak, but not nearly as bad as they were during the financial crisis.
Listings are more interesting now moving above the benchmark representing the last half of 2009.
Seasonally adjusted the increase in new listings was more significant than that of sales resulting in a sales/listings ratio of 45% down from 51% last month. (unadjusted the ratio is 47%). A ratio under 50% indicates a market with falling prices.
This chart shows cyclical pattern of sales and listing increasing each spring. So far this year sales have lagged, especially when compared to boom years.
The chart of seasonally adjusted sales and listings also highlight this trend.
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