For the fifth straight month closed home sales have posted at double digit gain over the prior year. October put us at 16.8% over 2010 closed sales, pushing our year to date at 366 more sales than last year, an 8.8% increase. This trend should continue as pending sales posted a sixth straight month of double digit increase, sitting at 19.1% this October compared to last and YTD we are up 12.6%.
Inventory and new listings continue to decline. October new listings were down 15.3% and YTD we are down 14.5%. This has pushed our total inventory down 18.8% and our months supply of inventory is also down substantially to 8.0 months, a 24.0% decrease from last year at this same time.