Home sales in the MRIS region continued their recent hot steak once again in December. There were 7,551 pending sales during the month, up 20.7 percent from last December. That means the region finished 2009 with 116,902 sales – up 16.0 percent from 2008.
Supply was a different story in 2009 as the 192,147 new listings represented a drop of 14.7 percent from 2008.
Strong sales and falling supply have helped bring the Months Supply of Inventory down to 5.7, a decline of 36.5 percent from a year ago and a sign that the market is moving slowly back towards equilibrium.
