Years ago I would comment on how lop-sided the market was to the sell side. For example in THIS POST from Aug. of 2007 the stats showed that sellers were over buyers by over 3 to 1. Things have really changed. Last week on one of our Fresno MLS 24 hour market watches we had one day that was REALLY balanced.
Take a LOOK:
Notice the New Listings = 47 and the Pendings (properties that went into contract) = 47 and the Solds (properties that closed escrow) = 46.
That’s a pretty well balanced market.
Here’s a look at today’s stats:
Notice that Pendings and Sales are little bit more than New Listings. Lately this has been typical.
Translation: Everything coming onto the market is getting scooped up.
An imbalanced market to the sell side took prices down. If the Market continues to show buyers over sellers then prices should begin to firm up, maybe even rise some.