Despite the downturn in closed sales over the last two months (which I attribute to sales being pulled forward due to the Homebuyer's Tax Credit), pending homes sales reached the highest level for any month this year, and the most since October 2009.
206 home sales were showing as "pending" at the end of August. With roughly 825 houses currently listed for sale, the number of pending sales results in just 4 months of available inventory, the lowest amount in over 3 years!
While not all of the 206 pending sales will close, a large percentage will and this bodes well for the Bend real estate market.
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