Posted by The Cascade Team Real Estate on Tuesday, November 6th, 2012 8:16am.
The ARMLS Pending Price Index (PPI) is a metric unique to ARMLS which forecasts the median and average sales prices 30 days in the future, based on the pending properties inside MLS. Last month STAT predicted the median sale price for October to be $145,000, missing the actual median sales price by 3.45% to land at $150,000. The average sales price predicted last month for October was $191,500, missing the mark by 6.48% to land at $203,900.
PPI predicts the November median list price to land at $150,000, while the average sales price prediction is $196,900.
The PPI Supplement focuses on newly pended properties added to the total pending pool each month on a rolling four month view. The percentage of newly pended property in October shows very little change from the preceding month. Pendings in the $150,001-$200,000 range declined from the preceding three months, while ranges $200,001 and above did not show any significant trending over the past four months.
The PPI supplement - $/SQ FT report examines incremental gains or losses over a rolling four months in the price per square Foot of newly pended properties added to the pending pool each month. Increases in $/SQ foot were seen in all price ranges from $100,001 through $450,000.
Information courtesy of ARMLS. See the full report here.