Long Downward Pressure has fallen off 50% or the last 11 out of 12 days compared to last 7 weeks of much stronger down pressure. This may indicate the IHs are content to hold pps somewhere in this area for now going into 4 Q. This matches up with the pps tending towards alligning with the 3 year bottom trendline.
Short Sales for the past week has fallen off tremendously:
Day.......Daily Vol.....Short Sale Vol....SS % of Daily Vol May 21...1,490,318.........958,125............64.29% May 22...1,786,869.........806,057............45.11% May 23......925,690.........391,011............42.24% May 24...2,010,041.........929,242............46.23% May 25...1,423,970.........658,301............46.23%
May Weekly Totals:(Notice last week's drop off.) Day.....Weekly Vol.....Weekly SS Vol....Weekly % of Daily Vol Week 1...12,997,710......5,596,187...........43.77% Week 2...12,866,808......5,910,045...........48.37% Week 3...14,540,883......5,886,361...........39.38% Week 4.....7,636,888......3,742,736...........48.82%
Last 3 months totals: (Note May drop off.) Month....Month Vol......Month short Sales...Month % Daily Vol. March...55,338,400........26,106,020...........44.87% April.....70,939,574........32,022,131...........43.27% May.....48,042,289........21,135,329............45.09%
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