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June 2011 RBI Pending Home Sales Index Released – Washington, D.C. and Baltimore Metro Areas

July 11, 2011  |  by Jonathan Miller

It’s been a little over a week into July and both RBI and moi have been busy. We just released the June market recap for the Washington, D.C. and Baltimore metro area housing markets via our Pending Home Sale Index series for both markets.

Rest assured, in about 3 weeks you’ll get the NAR National Pending Home Sales Index and next December you’ll get the Case Shiller Home Price Index – neither accurately reflect the current state of the Baltimore and Washington, D.C. metro area housing markets.

Check out the reports:

RBI Pending Home Sales Index [Washington, D.C. Metro Area]

RBI Pending Home Sales Index [Baltimore Metro Area]

And for more data mining, you can research the wide ranging granular data that RBI meticulously maintains.

Posted in Blog, Jonathan Miller Insights, Market Statistics

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8 Responses to “June 2011 RBI Pending Home Sales Index Released – Washington, D.C. and Baltimore Metro Areas”

  1. Lee says:

    "neither other their reflect the Baltimore and Washington, D.C. metro areas." ?
    Do you mean neither of them reflect the Baltimore and Washington, DC metro areas?

  2. Thx Lee – good catch. Too much time spent on numbers and not enough on grammar. ;-)

  3. Guest says:

    I don't see the value in a discussion about "pending" sales. Most are short sales in process for more months than we can ever get over. Can someone explain?

    • Thanks for dropping by. I'd like to address your comments on how "most are short sales." While there are certainly plenty of short sales, they comprised about 20.1% of DC Metro's new pending sales activity or 1 in 5 transactions in June 2011 rather than "most" of the transactions. The average days on market for short sales in June 2011 was 95 days compared to 58 days for non-bank mediated sales (no REO or Short sales) – they took about 5 weeks longer to sell (as an average). Sales trends are always in front of price trends whether or not there are any short sales in the mix. In your comment, prices would also include short sales since pending sales do and since short sales take longer to ultimately close, price trends could also be subject to skew.

      Incidentally, in addition to new pending sale data, both the DC and Baltimore indices also include median sales price which is based on closed sales – if you simply feel more comfortable relying on sales trends.

      Hope that helps clear things up.

  4. [...] we released the RBI Pending Home Sales Index for both Washington, D.C. and Baltimore metro area housing markets for RealEstate Business Intelligence (RBI), the research, analytics arm of MRIS, the largest MLS in [...]

  5. [...] we released the RBI Pending Home Sales Index for both Washington, D.C. and Baltimore metro area housing markets for RealEstate Business Intelligence (RBI), the research, analytics arm of MRIS, the largest MLS in [...]

  6. JIm says:

    Nothing counts except for closed sales. Period.

  7. [...] we released the RBI Pending Home Sales Index for both Washington, D.C. and Baltimore metro area housing markets for RealEstate Business Intelligence (RBI), the research, analytics arm of MRIS, the largest MLS in [...]

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