The Combined LA/Westside Multiple Listing Service has published a chart that I think is worth noting.
The graph, which compares figures from August 2008 to August 2010, indicates that the number of Accepted Offers has increased while the number of Active Listings has decreased.
This points to an improvement in market conditions (from a Seller's perspective).
We're seeing the same in Seattle, Stewart. The decline in listings here is seasonal. Been that way for twenty years heading for a low on Jan 1st. "Sales up" is nice. I've noticed our pendings climbing.
Perhaps, the banks are not putting as many properties back out on the market-banks holding back inventory in my marketplace to create the same thing.
Very encouraging sign. Now take that progress and put it on a train-no, a plane- eastward. We could use some!
Looks like some good trending going on there and from the comments the trend in a few other places too.
Stewart,
I've noticed listings down in a number of areas as well. As you stated this should lean in the sellers direction.
Steve
Very good news for your market Stewart. Looks like a bit of balance is being restored.
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