On Friday I posted this graph of 2009’s pending and closed sales to demonstrate just how out of whack the two have become: In the comments, a reader claimed that I was “reading this graph wrongly,” and that plotting the data in this manner “will always see a giant gap.” Since there is typically a…
Tag: pending
Quick Look: August YTD Pending and Closed Sales
Here’s an idea for a new occasional feature. In “quick look,” I’ll create a few charts, all depicting different takes on the same set of data. The charts will be presented with little to no commentary, to allow the graphs to speak for themselves. This week’s theme is YTD pending and closed sales as of…
Should the MLS Ban Short Sales?
In the comment thread on yesterday’s post there was some discussion about the ever-growing gap between pending sales and closed sales. Here’s a simple look at how they stack up through July (since August stats aren’t out just yet): The massive difference between pending and closed sales brings up the question: Is there really a…
Another Look at Recent Pending and Closed Sales
Here’s a belated look at the quarterly total sales chart, updated to include Q2: Still came in lower than any previous quarter—about 15% lower than last year. So far this quarter is off to a stronger start, with July sales coming in 11% higher than last year. It will be interesting to see if that…
NWMLS: Mark Any Accepted Offer on a Short Sale as “Pending”
Kevin Lisota of Findwell sent me a heads up about a rule clarification sent out today by the NWMLS to all their members: Short Sales: Status Change Required after Mutual Acceptance Rule 120 (b) requires the listing office to timely report the mutual acceptance of a purchase and sale agreement for a short sale as…