Last weekend (April 10-11) was “Open House Weekend” which was something the National Association of Realtors came up with to try to help sell some homes. To try to see if it made a difference, I looked up the number of escrows for the last 4 weeks in SLO County:
Mar 21- 27 94 pendings
Mar 28 – Apr 3 102 pendings
Apr 4-10 64 pendings
Apr 11-17 76 pendings
I would assume that the week after “Open House Weekend” there would be an increase in accepted offers. While the number of pendings did rise from 64 to 76, it’s 25% below what they were the week of Mar 28-Apr 3.
What’s more alarming is how slow the month of April is so far. Through the 17th, we’re at 140 pendings. The number of pending sales for April 2009 (the entire month) was 366. We need a lot of pending sales the last part of this month or inventory is going to go UP!