It could just be the time of year as pending sales typically drop anyway, or it could be a sign that the market hasn’t bottomed out yet.  Either way we’re not happy that the CMI Index has risen once again, a telling sign about the upcoming months ahead for this market.

Active listings are holding relatively steady. however, they are still rising.  Pending sales are also holding relatively steady, however, they are still dropping.  Either one wouldn’t be so bad except for the fact that inventory levels are near their highest levels.  This isn’t the best time for either of these events to occur, let alone both simultaneously.

Many agents I talk to, however, are optimistic that this upcoming season will be much better than the past two seasons.  We also look forward to the results of proeprty tax reform in Florida, which could influence affordability for home buyers.

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