The statistical information for the city of “Newport Beach, California” is extracted using CRMLS on 02/01/2012. It includes four sections: “Active” (This metric provides useful insight into the overall supply of properties); “Backup Offers”; “Pending Sales”(a buyer and seller have successfully negotiated a purchase contract and have opened escrow. This metric is a direct measure of current sales activity and a leading indicator of market demand); and “Summary” which reflects the information for all the previous mentioned sections combined. Current report shows an increase on the number of “Active” properties, an increase for “Backup Offers”, while there is a decrease on the number of properties “Pending Sale” compared to the last report which was extracted on 01/01/2012.
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