The number of new listings of single family homes during the last two weeks is down compared to the previous two week period and also compared to the same time last year. The opposite is true for condos -- the number of new listings is up compared to the previous two week period as well as the same period a year ago.
Usually this time of year we begin a period of fewer listings that lasts until after Labor Day. There are signs that this pattern will hold true for single family homes but new listings of condos continues to rise.
The number of these new listings that went into contract during the same two week period is down slightly for both single family homes and condos compared to both the previous period and the same period a year ago.
The number of price reductions continues to be much higher than it was a year ago. That's been true for four months in a row, since the end of February.
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