Posted by Jonathan J. Miller -Thursday, October 21, 2010, 9:18 AM
Other reports we prepare can be found here.
For additional insight, we capture general press coverage.
…There were 469 sales in the third quarter, 2.2% above 459 sales in the same period last year, but 19.4% below 582 sales in the prior quarter. The pronounced decline from the prior quarter marks a return to seasonality. For the past decade, the average decline between the second and third quarters was 17.1%. The prior year was the only time an increase occurred in the same period, further evidence of the unusual pattern of sales activity seen in 2009 after the Lehman tipping point. For the past two years or eight quarters, listing inventory has ranged from 2,079 to 2,419, a relatively tight spread of 340 units. Listing inventory in the third quarter was in the middle of this range at 2,271 units, 6.1% below the prior year quarter and two year peak of 2,419, but 3.7% above 2,190 seen in the prior quarter…