[RBI Pending Home Sales Index] Washington, D.C. Metro Area 8-2011 – Despite Natural Disasters, Seasonal Patterns

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Today we released the RBI Pending Home Sales Index for both Washington, D.C. and Baltimore metro area housing markets for RealEstate Business Intelligence (RBI), the research, analytics arm of MRIS, the largest MLS in the country. It is released 10 days after the close of each period (the 12th this month because of the weekend), about 3 weeks before the NAR Pending Home Sale Index and 182 days before the Case Shiller Home Price Index covering the same period.

Here’s an excerpt from the just released August 2011 RBI Pending Home Sales Index [Washington, D.C. Metro Area] report:

…The last month of summer provided an unusual amount of economic uncertainty caused by the S&P downgrade of U.S. debt after July’s raucous political debates on the debt ceiling. There was a widely held expectation that consumers would delay their home purchases until they felt more comfortable with the impact to the economy. For the Washington, D.C. metro area, there was no apparent impact on the volume of new pending sales beyond seasonal patterns. There were 4,169 contracts signed in August 2011, 8.6% less than the 4,563 contracts signed in July, consistent with the 5-year 9% average month-over-month decline and the ten year 7.5% average month-over-month decline. The monthly total was the highest number of August signed contracts in 4 years. New pending sales were 19.9% above the August 2010 level but that increase is exaggerated due to the dearth of activity in the months following the expiration of the federal homebuyers tax credit in April 2010. The median sales price for August 2011 showed a similar seasonal pattern, declining 3.8% to $356,000 from $370,000 in July 2011 but was essentially unchanged from August 2011. Median sales price has averaged a 3.6% month-over-month decline over 5 years and a 2.2% month-over-month decline over ten years…

RBI Pending Home Sales Index™ [Washington, D.C. Metro Area]

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[Three Cents Worth #164] Manhattan’s Seasonal Sales Heartbeat

It’s time to share my Three Cents Worth on Curbed, at the intersection of neighborhood and real estate.

…There has been a lot of discussion about returning to a more normal (someone please define “normal”) market as compared to the insanity of the past two years, and perhaps all of 2003-2007 for that matter. To explore this idea, I took the % market share of sales for each quarter and compared it to the other three quarters in the same year over the past two decades…

Three Cents Worth: Manhattan’s Seasonal Sales Heartbeat

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Stories of Seasonal Decorating: Lack of Holiday Spirit in a Mall; in Boca, it's Pastor vs. Menorah!

Like us and you'll find top breaking news in your Facebook newsfeed. Sign up for our daily email newsletter and get top stories and breaking news delivered to your inbox. Friday, December 10, 2010, by Sarah

Stories of Seasonal Decorating is a particularly relevant Curbed National feature in which we commemorate the countdown to Christmas by rounding up decor happenings in neighborhoods, small towns, and cities across our fair continent and publishing 'em at various points throughout the month. Got a local tale of your own? Send it along to the tip line.

Photo by Joe Amon/The Denver Post

DENVER, COLO.— The Denver Post takes a look at Boettcher Mansion,the Colorado Governor's residence that Governor-Elect John Hickenlooper may or may not move into. There are some great shots of grand, gracious holiday decor. [Denver Post]

BURLINGTON, ONTARIO— One resident was so flabbergasted by the "minimalist" holiday decor at the local Mapleview Centre mall that she contacted the mall administration. "Mall employees, too, are concerned," reports one article. "Many say they've been inundated with questions from shoppers about the sparse decorations and Mapleview's general lack of seasonal spirit." [TheSpec.com]

BOCA RATON, FLA.— It's Florida's version of the NYC mosque controversy! Except in play here is a menorah, erected outside City hall, and a determined pastor who thinks it should be taken down and replaced with a nativity scene. [WPTV.com]

TERRE HAUTE, IND.— Reindeer were recently reported stolen from a local park. Extra police are being deployed through the holidays. [WTHIV.com]

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