Weekly Scorecard 8-17-10
It appears inventories are peaking and we are seeing closed sales come more in line with in MLS Area 530 (East Bellevue). The other two areas that still have a big spread between closed sales and pending sales. the disturbing faactor is that while inventories have peaked, if you look at pending sales they are by half. The result is that either inventories will need to be reduced or you may see another round of price cuts. Nothing like the spring of 2009 but if the inventories remain where they are and sales do not pick up then this fall and winter could see a slow sagging market.
The spreadsheet is here: Weekly scorecard 8-17-10