Monday Morning Numbers 10/11/10

I'm back in town after a few days down in Anaheim at the California Association of Realtors business meetings. It's always weird for me to be on the road - I'm definitely a home-body. But the meetings were interesting, and I have a good blog topic for a couple of weeks from now that came out of a recurring theme from them. Let's take a look at this week's numbers:

Active Listings: 121

Contingent Listings: 36

Pending Listings: 59 (27.3% of the inventory)

New listings: 11

Months of inventory: 5.5
Click here for the updated price per square foot chart.

It doesn't appear that much changed while I was out of town. We're still seeing a very slight trend to an increased level of pending sales. The big news that hit last week was that Bank of America is putting the brakes on foreclosures in all 50 states while they review their processes. That could be a significant short term hit on inventory in a few months - we've had a lot of their properties on the market in this cycle. It'll be interesting to watch two things here: Will any of the other major lenders follow suit? And what happens when they resume foreclosures? Stay tuned.

Later this week I'll be doing my wrap-up of the third quarter. You know you don't want to miss that.