WHAT KIND OF MARKET ARE WE IN?

This chart will be updated at the end of each month.   

Note that the Statistical Analysis Module (SAM) 

(found in the "UP-TO-DATE STATS FOR SCCL" TAB)

uses the following metric for Months Supply:

The inventory of homes for sale at the end of a given month, 

divided by the average monthly Pending Sales from the last 12 months. 

This is known as the absorption rate. 

My personal preference is to divide the inventory of homes for sale at the end of a given month by the number of homes that went under contract (Pending Sales) in that month. 

I believe this gives a better picture of what is happening right now.

This is what was used in the SCCL MARKET UPDATE charts. 

 

Note that just a couple of additional homes going Under Contract can change the months supply significantly, as two variables are changing.  As the number of listings that go UNDER CONTACT goes up, the number of ACTIVE listings goes down by the same number.

The blanks above are because the SAM module didn't provide this information in November.

SHOWINGS

Click on graphs to enlarge. 

Single Family Residences

 

Carriage Homes and Villas