Initial numbers are in for March. Yes March madness continues. Number of Closed Escrows for March is 8846, that’s a 16% increase over 3/09 and a 34% increase over 2/10. 2010′s YTD Closed figures show a 19% increase over 2009′s 1st Quarter numbers.
REO sales numbers are continuing to decline as a percentage of sales-39% of Closed; 34% of Pending; and 15% of Active listings. Short Sales on the other hand are increasing with 21% of Closed; 30% of Pending (or 3930); another 6585 in AWC status (89%); and 27% of Active listings.
The other noteworthy item is the number of Pendings and AWC’s. Total Pendings on April 1 are 13,190; and total AWC’s are 7429. That’s an awful lot of property in escrow. Let’s hope the AWC short sales get approved and closed.
I’ll comment on Prices at a later date since my initial review of closed sales found over $25 million dollars in sale price discrepancies.
