one of the best stats in sales is ...

one with enough of a trend line.
It is being reported that May of 2011 had over 2100 pending home sales (single family homes that have been placed under contract but not closed yet) which would be around a 53% increase from last May '10. Our market is in good shape considering what has been going on Nationally / Globally. Due to what is / has been going on I love seeing these numbers for pendings. However I offer caution when analyzing data that is too narrow (i.e. January 15 of '11 vs January 15 of '10 and even month of one year vs same month a year later). Trend lines of 6months or more are best.
This recent news of the 53% increase of sales in May is great. I think this story should also include an analysis of last years peak months during the tax credit of $8,000 for buyers. This fueled sales in March & April of 2010 thus reducing sales in May '10.
Again, these pending numbers are outstanding. I just don't like the way some stats are reported when one day or month of a year is compared to exact same day/month of a year later. Look for a trend of 6+ months when discussing the over all market & at least 3 months plus when pricing a home for sale.