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Since the neighborhood data is too thin to build a reliable trend line, we have grouped neighborhoods by logical regions based on housing stock.
…The number of sales in the fourth quarter was above levels in both the prior year quarter and prior quarter as consumers took advantage of low mortgage rates and lower housing prices. The surge in sales over the second half of 2009 was due in part by a release of pent-up demand from the first half of 2009 when sales activity was below trend which had stalled in the aftermath of the fall 2008 credit crunch. The surge in the stock market last spring helped provide consumers with more confidence to make purchase decisions related to housing. This trend has continued through the end of 2009. There were 2,093 sales in the fourth quarter, 13.4% higher than 1,846 units in the same period last year and 13.3% higher than 1,847 units in the prior quarter. As a result of increased sales activity, inventory declined over the same period. There were 5,439 listings available at the end of the fourth quarter, 10% below the 6,042 listings available at the end of the same period a year ago and 2.9% below the 5,600 units available at the end of the prior quarter…