I feel like I am repeating the same thing with every week of market stats, but at least the repetition is good news. Weekly buyer activity for the week was up 53% over the same period last year, and this is not just a flash-in-the-pan, with the past 3 months of buyer activity up over 41% over the same period of time in 2010.
New listings continue to decline with the week showing 21% fewer new listings coming on the market as compared with the same week last year.
The only discouraging news is that the median sales price is down 11% from 2010. Hopefully, the move toward a balanced market will continue to exert upward pressure on home prices.
