Long time readers of Frothing Developer will know that we are not big fans of Year over Year comparisons. They’re interesting from a historical point of view, but not particularly useful predicting the future.
Here’s an interesting comparison from this morning’s National Association of Realtor’s press release:
The West has a better Pending Sales index than it had a year ago, whereas each of the other three parts of the country continues to underperform last year’s numbers.
One reason for this is the underlying economic strength of the West. These things are long-term trends: the movement of retirees to the sunbelt, the movement of workers from high-tax regimes like Ohio and New York to low-tax regimes like Nevada, the population growth of the Hispanic community, the power of NAFTA.