A reader asked me:
You have not posted the number of closed (sold) unit for the last two weeks. Am I to assume that the numer is so low that you do not want to report it? It is a valuable tool in assesing the strength of a market, and I would like to see it listed in the weekly data.
I don’t think I’ve ever reported units closed (sold) for LINK.
A couple of weeks ago, I started reporting data from MLS. I included units sold for the first couple of weeks, but stopped, because I don’t trust the data. I’ll look at it more closely, but I’m not sure MLS is calculating it correctly.
If you want to know the strength of the market, look at the number of properties that go under agreement, as well as the number of properties currently on the market. If the number of properties that go under agreement goes up, that means there’s lots of buyers out there. If the number of properties currently on the market goes up quickly, it could either be that no one’s buying, or that we are entering a busy season, like spring and fall.