Pendings are WAAAAYYYY Up

I was looking at the NWMLS hot sheet this morning and noticed that a lot of houses went "pending inspection" over the last few days, including one of my listings. In fact, I have noticed a definite increase in pendings over the last few weeks. Also, there has been a real increase in open house traffic on Sundays. All the Realtors in my office have been commenting on it. So, I thought I'd take a quick look at how many Pierce County homes went "pending inspection" in December, January and February. By the way, "pending inspection" means that a buyer's offer has been accepted by the seller and the buyer is formally under contract to purchase the home. Here are the results:

December: 27 homes went "pending inspection"

January: 123 homes went "pending inspection"

How many do you think went "pending inspection" in February? How does 386 sound? Holy smoke! That's a huge jump. I had to run my numbers twice to make sure I didn't make a mistake. It's great to know that consumer confidence in the Pierce County real estate market is improving.