Glen's East Bay Housing Numbers Through August 2010

The August edition of Glen’s East Bay Housing Numbers is here & at the risk of sounding like a broken record, we’re seeing a continuation of the recent trends. Inventory still rising and the number of pending transactions (listings in contract, but not yet closed) continues to decline.

Taking a look of Pending Listings/Active Listings, this month we’re sitting at .86, which continues the downward trend back into buyer’s market territory (<1.00).  It will be interesting to see if this downward velocity continues next month.  Based on what we’re noticing with our own listings, my inclination is that we’ll start to see a reduction in the velocity of the downward trend.

So in summary, the August edition of Glen’s numbers shows that inventory is up, pendings are down & the pending over active ratio continues to trend back to the a buyer’s market.  I spent a good portion of the weekend compiling some additional data for the past few months in Contra Costa & Alameda counties, which we’ll be publishing in the next few days, so stay tuned for that.

As always, I’m available if you want to talk about the market, or explore your options for buying, selling or investing in East Bay real estate. You can reach me directly at 510.333.4460.

You can also download the entire copy of my numbers through August 31st here.

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