Wednesday, March 12, 2008

Month End Stats – February 2008

I'm a near-total techno nerd (in the bad way) and can't figure out how to put a chart right into my blog post without it going all visually wonky.

So here's a PDF of the most recent stats, up through the end of February.
Catchy file name, no? <Snerk>

The summary? We've got a heckuva long way to go to 'normal', but at least the numbers are still moving incrementally in the right direction.

One very interesting item on the chart -- the number of pending properties jumped all the way to 10% of our current inventory. Could this mean the traditional spring buyer bump has begun?!?

Sales are historically higher in the spring and summer months, as parents look each other in the eye over the dinner table (or over late night drinks) and say to each other, "Honey we should move to get the kids in a better school district before next fall." If that process has begun, Gawd bless them. Parents striving for a better education for their little monsters just might be the salvation of our market. Or at least the beginning of the snowball. Or dustball, given we're in the desert.

'Course, it could also be that 10% of our inventory is pending but many of those will fall out of escrow. That would be BAD. Or it could be that first time buyers are getting the message that now is one of the best times in their young lives to buy real estate. That would be GOOD. Or it could be that cash-poor buyers of all stripes are getting the message that Zero Down financing is still available through various programs like AmeriDream and Nehemiah Corp, and most buyers can still buy with only 3% down via FHA programs. Those too would be GOOD.

Only one way to know. Wait and see what end of March numbers look like.