Last updateWed, 19 Oct 2016 4pm

Market conditions slow as pending home sales rise

MEGAN WINSLOW/town crier
More houses and townhomes are on the market – like this home listed by Sereno Group near downtown Los Altos. According to the Silicon Valley Association of Realtors, 29 percent of homes sold for above asking price in August.

Realtors responding to the California Association of Realtors August Market Pulse Survey report a slowing down of most leading indicators of overall market conditions, such as a decline in floor calls, listing appointments and open-house traffic.

The survey revealed that the share of homes selling above asking price rose to 29 percent in August, up from 27 percent a year ago. The share of properties selling below asking price dropped from 48 percent in August 2015 to 41 percent. The remaining 30 percent sold at asking price, up from 25 percent in the same period last year.

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