RP Data’s market activity index has flattened over the last week, after recording consistent improvements since the start of June. The index, which is based on a measure of real estate agent activity, increased by 17 percent since the start of June and is currently 29 percent higher than the same period last year.
The slowing in the index over the last week indicates that the scramble by real estate agents to list properties for the spring selling season is slowing. The gains in the index are now translating into real increases in the amount of stock being advertised for sale: compared with last month, the number of new property listings advertised for sale is up 12 percent to 50,630.
25-Sep-09 