Not what I expected. 2.4 months of inventroy whacked off last month’s staggering numbers that was a massive increase over the previous month.
The report states:
Compared with January 2008, closed sales were up 27.6% (1,384 v. 1,085) and pending sales rose 9.9% (1,837 v. 1,671). On the other hand, compared with February 2007, the number of new listings grew 4%, while closed sales declined 27.1% and pending sales fell 35.2% (see table below).