There wasn’t much change in the real estate market this past week. The number of available single family homes decreased slightly, from 97 last Monday to 96 this Monday. The percentage under contract also decreased slightly, from 34% to 33% in the same time frame. For traditional (ie non-distressed) properties, the number of available listings increased one, from 88 last week to 89 this week, and the percentage under contract decreased slightly, from 27% to 26%. Interest rates inched up a tiny bit, which may cause a few fence sitters to jump into the market.

As anticipated, the market is continuing to show signs of improvement. The number of available single family properties decreased from last week’s 98 to 97 this week. The percentage of listings that are under contract has increased from 33% last week to 34% this week. Traditional (ie non-distressed) listings are showing the strongest improvement, with available properties dropping from 90 to 88 and the percentage under contract increasing from 24% to 27% over this same time frame. As students settle into the new school year, I expect more buyers to enter the market to take advantage of the lowering mortgage interest rates.