All I can do is report the numbers.  Inventory numbers are lower but you can’t definitively define why.  December’s weather sucked, the holidays, economic uncertainty, what-have-you; all that was all reflected in January.  Now we still have economic uncertainty and what-have-you. Closed sales and pending sales numbers are down from this time a year ago but both up since January (average sales price was up .4% and the median up 3.6%) .  New listings on the other hand are down from a month ago.  Click on the image above to enlarge it to a more readable version.

While real estate may be “local” and I have been able to report in the past that at least one RMLS reporting are was in positive territory on a 12 month rolling average, that is no longer the case: all areas have dropped (in the range of -1.2 to -9.6%).