Active inventory fell slightly in SW Florida again for the 4th straight month, as did pending sales.  The market seems to have settled into a holding pattern.  Foreclosures have been rising to about 1,000 per month.  Foreclosures are sold on the courthouse steps, so many of these would be in addition to these numbers.  The wildcard in all this is that many times there isn’t a buyer at the courthosue steps and the bank ends up taking the home back.  These units will eventually hit the market, and some are already included in the exisiting inventory numbers.  We have many short sales listed in MLS too which are included, so if and when those go into foreclosure they will not add to the inventory.

The higher the CMI Index, the more supply we have relative to demand.