Weekly Market Activity Report

Here's the latest from MAAR:

Buyers and sellers took their annual Memorial Day pause for the week ending May 26. Seller activity dropped precipitously to 2,397 new listings, while pending sales declined less dramatically to 909 newly signed purchase agreements. Compared to one year ago, new listings were down 4.2 percent while pending sales were 22.8 percent behind.

This week's edition of the MAAR Weekly Market Activity Report includes updated June 2007 figures for Supply-Demand Ratio (SDR) and Mortgage Rates. The SDR increased to 7.79, which means that there will be roughly 7.79 homes on the market for every buyer in the month of June. This is an increase of 41 percent from the same time in 2006. Interest rates grew to 6.3 percent after several months of holding steady at 6.1 percent. Rates remain near historical lows but may show slight increases later in the year.