Wednesday, October 23, 2013

Pulse of the Market

Here's the latest edition of our look at new listings that go into contract within 14 days.

We use this statistic go help confirm our own observations and anecdotal evidence about whether the market is heating up or slowing down.  It gets us much closer to the point of decision making than most other statistics, including our own, that rely on sales prices that only become available after the property closes escrow.  In a normal market the decisions about offer and acceptance are made as much as six to eight weeks before the sales price is reported.

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