Early Sign of Thaw?

New num’s….

Category…….Pending…..Active…..Ratio
Overall…………110………628……..17.5%
Sub $200K…….38………104……..36.5%
$200-$300K……46………212……..21.7%
$300-$400K……17………138……..12.3%
$400-$500K……..4……….65………6.2%
$500-$600K……..5……….33……..15.2%
$600-$700K……..3……….27……..11.1%
$700-800K……….0……….18………0.0%
$800-$1M…………0……….18………0.0%
Over $1M…………0……….21………0.0%

There is improvement overall since December of more than three percentage points, but check out the sub $200K range. The improvement here is tremendous. Ordinarily I would say this will trickle up into the higher price categories as those lucky sellers, freed up at last to buy, move to more expensive homes. However, many of the sellers in this case are banks, and individuals with injured credit scores who may not be able to buy something else right away. But as that inventory is absorbed more and more sellers will turn into buyers. Stay tuned.