No crystal ball, just reviewing and  looking at the fact of the market shows us that with the current pending contracts during the first 4 months, the months when most of the homes are sold, shows us that we could fall below 2001 levels of sales for single family resale homes in Lee County.

If you prorate the sales based on the monthly average todate, we'll be at or just above 7000 homes sold by the end of the year. So far we are averaging 654 homes per month going under contract, out of this I am seeing 10% fall out, or homes that never close. If this hold that put our annual sales at 7800 and considering the first quarter is usually strong we could see our typical slowdown in Sept/Oct. If that is the case we could fall to the 7000 level of sales. Not seen since 2000 when we had 7009 homes go pending for the year.

Michael Polly
Vice President
Denny Grimes and Company