End of the first week in April
Good ole market has rolled off in yet another direction. REPO/REOs are now almost 50% of the sales. Those and shorts are well over 50%. The REPOs have been running a pretty consistent 33% though the accounting in the MLS has changed a little. The interesting one is that price is up about a percent at the moment. REPOs are up about a percent and a half and non REPOs are up something like 10%.
Volume is up well over 20% from last month so it is now a virtual certainty that sales in April will be up 5 or 10% over last year. Been a long time since that happened. Inventory is clearly dropping. Pending continue to climb strongly.
Don't know how this is all going to work out but the market is changing and real fast. I will hazard a guess that if you want a real buy the timing is now or pretty soon. Nothing like a price increase or even stability with a significant year over year volume increase to start the up cycle.
Personally our sales volume has now reached last years...going to be a good year it looks like.
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