Schooling Habits of Sales


Every month in its STAT newsletter ARMLS publishes the Pending Price Index™ (PPI) which fore- casts average and median sales prices 30, 60 and 90 days into the future. The 90 day predictions are the least accurate when compared to the actual median and average prices, so ARMLS decided to dive into the pending property pool inside flexmls and learn about the schooling habits of tradi- tional, foreclosure and short sales.


While PPI looks at pending properties in aggregate, we decided to identify individual pendings and follow them while they were navigating the currents in the contract-to-close process. We wanted to know which properties scheduled to close in thirty days actually made it on time. Those that did- n’t make it on time would move anticipated closing to the next month, and of those we wanted to know which ones made it on the new schedule. We carried this progressive string of delays for in- dividual properties out six months and found some surprising habits.


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