For the third straight month closed home sales have posted at double digit gain over the prior year. August put us at 27.0% over 2010 closed sales, pushing our year to date at 199 more sales than last year, a 5.8% increase. This trend should continue as pending sales posted a fourth straight month of double digit increase, sitting at 34.1% this August compared to last and YTD we are up 11.5%.
Inventory and new listings continue to decline. August listings were down 16.4% and YTD we are down 15.3%. This has pushed our total inventory down 20.1% and our months supply of inventory is also down substantially to 8.7 months, a 18.9% decrease from last year at this same time.