Weekly Market Update 6/28/10

The number of pending sales on the market took another big hit this week by decreasing quite a bit. It was a 6.5% decrease in Canyon County and 8.1% decrease in Ada County for the week. The number of homes on the market in Canyon County increased this week by 1.1% and increased by 0.7% in Ada County.

It appears that the decrease in pending sales is due to buyers withdrawing their offers on short sales because they are tired of waiting. It also appears that some of the homes are going to auction before the short sale process is completed.

-Craig Panike, Broker