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It’s time for our third-week-of-the-month market check-in!
If you’ve been following my updates since mid-January, today’s numbers might look a bit... well, confusing. In our recent brokerage mastermind meetings, the energy has been high—agents are seeing a significant pickup in activity and boots-on-the-ground excitement.
But if you look only at the Closed Sales for January, you’d probably think I was pulling your leg. They were actually down 31% month-over-month.
Wait just a second, though! 🛑
While the "Closed" numbers look sleepy, Pending Sales surged by 24% in January.
Here’s the simple trick to reading these reports:
Closed Sales in January are mostly homes that went into contract back in December (the holiday lull).
Pending Sales are the homes people are falling in love with right now.
Those January pendings will become February’s final "closed" numbers. So, while the data looks like a rearview mirror, the pended activity tells us the road ahead is heating up. Let’s keep an eye on this together when we check back in for March!
P.S. Know someone who is tired of the "zestimate" roller coaster? Forward this email to them! If they want to get these straightforward updates directly, they can join the list right here:
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