New Listing to Pending Sale Ratio

In my never-ending quest to find good news in the real estate market; let me share this fun statistic. The chart to the right depicts the change in a ratio that represents how many new listings are being 'canceled out' by listings coming off the market through a pending sale.

The curve of this graph was consistently in a downward direction as the market cooled as inventory of properties on the market expanded while sales volume declined. The graph (you guessed it) flattened out as we were in the doldrums in 2007 and 2008 so the apparent upward trend is a great sign moving forward.