The absorption rate has increased, days on market have increased and the percentage of selling price to list price has dropped. Could the Pasadena market be cooling this winter?
From LA.curbed: Home prices in LA are still sky high and climbing, but sales have slowed down for the second month in a row, according to a press release from realtor John Graff. Pending sales in the month of August dropped 35 percent from the same period in 2015. Meanwhile, the supply of houses on the market rose 56.7 percent over last year, giving the city 4.7 months of total supply. That’s a bit under the six months of supply that typically indicates a healthy market, but it’s a whole lot more than what potential buyers have had to work with in the past. As recently as June, the city had less than three months of supply.