During week 16 we had 3,079 homes available on the market which is an increase of 2% compared to the week before. Only 341 homes were newly listed last week, which was a huge decrease of 61%. This was mostly due to the fourth of July holiday weekend. Buyers were still out though and we had 873 homes go pending last week. That is the third highest that we've seen all year and is an increase of 13% compared to what we saw the week before. Overall 28% of the market last week did get absorbed through pending listings which shows that it is a strong seller's market.