Weekly Scorecard 8-23-10
The numbers are somewhat interesting. It appears inventories are peaking except for West Bellevue where they continue to climb. The fundamentals of the West Bellevue market look a little weak with rising inventories and very week pending sales in the last four weeks. The closed sales look OK but those pending sales numbers are not good for the amount of the inventory and its average price. The pending sales in East Bellevue and South Bellevue are also down but their inventory numbers do not appear to be rising. The closed sales numbers for South Bellevue were very impressive.
At some point in time the gap between the pending sales and the closed sales needs to narrow in order to see where this market will settle in at.
The spreadsheet is here: Weekly scorecard 8-24-10