End of month brings reprieve to inventory growth.  But it is only temporary due to the end of month on a weekend as well as a holiday weekend.  The market though remains a concern.  Even with a decrease of 170 total listings, the months to absorb inventory (supply) grew to more than a whopping 21 months, 1 week!  August showed a continuing weakness in the market with the lowest number of closings in more than 5 years.  The number of homes under contract (Pending Sales) are at a year low as well.  Tracking Pending Sales is the indicator of current activity in the market.  Usig this information one can forecast the next month sales activity.  September will be slower than August with August already the slowest month of the year.  Foreclosure properties listed in the last 14 days have increased 14%.  Shortsales offered for sale (future foreclosures) number 12.1% of total homes on the market.  Couple shortsales and foreclosures, they now acount for more than 1 in 5 available listings.   What is a Seller to do?  Be the best conditioned home on the block AND the BEST price.  Do not leave anything to chance.     

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