Mar 30 2016 Market Update

Mar 30 2016 Market Update

The National Association of REALTORS® has reported the highest number of pending listings for the USA in 7 months for the end of February. We presume that this does not include what we locally know as UCB or CCBS listings.

The ARMLS pending listings stand today at 8,313 for all areas & types. This is the highest since May 28 (10 month ago), but if we include the UCB and CCBS listings we get a count of 13,547 under contract. This is the highest number recorded since June 28, 2013, which is 33 months ago. Just in the last month UCB & CCBS listings have grown by 15% and pending listings have grown by 12% . Last year at this time we saw UCB & CCSB listings grow by 12% (less than 2016). However pending listings grew by a very strong 22% during the same period last year. Overall under contract listings grew by 19% between Feb 28 and Mar 28 last year and by 13% this year. So our high under contract count at the moment is largely due to us starting at a higher number rather than an exceptional growth rate. You can see this effect here:

Listings Under Contract

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Dated: March 30th 2016
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