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Jupiter Pending Home Sales Not Looking Great
 

Fourth straight decline is worry some
OK I admit it. I am a bit befuddled. We just updated actual home sales and they were up. They have been up almost every month since March. Not quite across the board up, but almost, with sales increasing over 75% in that 6 month span. Today it is time to update our Jupiter area pending home sales and for the 4th straight month they are down. And down rather significantly. Down almost 12% from where we were a month ago. Down over 23% from where we sat 4 months ago. But single family home sales are at record highs. I am befuddled.

Jupiter pending home sales should be a leading indicator of sales volumes 30 to 60 days into the future. How can we almost be setting new 12 month record lows in Jupiter pending home sales all the while hitting new all time record single family home sales. Condos and town homes are part of the answer as they have falling, not climbing, sales numbers. But there is no way this is going to continue. Single family home sales have to drop. Today's Jupiter pending home sales figures confirms it. Take it to the ... more

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