Sales decreased last month but not as much as expected.
New Listings fell dramatically as expected this time of the year.
On a seasonally adjusted basis sales have partially recovered when compared to the dismal pace set this spring.
Fewer new listings are coming onto the market now when compared to the rate earlier this year. This will be a key indicator to watch going into next year as the unknown variable is how many will be re-listed and how motivated they are to sell.
The sales to new listing ratio improved on a seasonally adjusted basis as sales held up better than expected.
The last chart shows sales, new listings and inventory over the last 5 years.Raw data from Bob Truman's site
Explanation of benchmarks
Happy New Year!
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