Home Sales

The Seattle Times reported a big increase in home sales during December, a typically slow month for closings.  Since volume needs to precede price this would be a significant step towards halting the decline in Real Estate prices.  However, one month does not a trend make.  As Seattle Bubble points out, pending sales are not showing as robust an improvement.

There is still room for closed sales to increase, but it will have to be supported by an increase in pendings.  I'll be watching this closely.