Cruising into the last week of October the metro market appears to be  continuing it’s upward trend over 2010.  New listings have reached 790 or about 67% of last year. (Again, good news for sellers as the existing inventory continues to decrease, the net result of which will be to stabilize or increase existing home prices.)

          Pendings have already reached 610, which is over 93%of 2010 with one week to go.    Closing are lagging at  370 closed so far this month.

         At 81% of the previous year, there is a very good chance that closing will exceed 2010 before the end of the month.

       Bank owned properties listed have decreased dramatically over the past several months. This may be a false indicator, as financial experts watching the banks are predicting another 1.2 million foreclosures to be initiated in 2012.REO’s not withstanding, we appear to be in a positive trend relative to prices with more families looking to upgrade or enter the housing market.