I've said this before but it bears repeating: the ratio of pending sales to actives is more important than the number of active listings. Pendings determine how many months of unsold inventory is on the market.
In Pleasanton, CA there were 35 pending sales in March 2008. In contrast, there were just 7 homes pending in the same city in February 2008. This is a sign that the market is starting to move.
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