The real estate market was created to exchange “products”: money and houses. When a house is made available to prospective buyers, there is a response to that “Product”. That response can be shown by the current and historic data and the trends and shapes of those lines. An ACTIVE listing is briefly also NEW. When a seller and buyer enter escrow, the “Product” becomes PENDING. If that buyer and seller execute the contract, the “Product” becomes SOLD. The life of all “Products” (MLS only) can be seen in these charts and blurbs.
Pending over New listings render the calculation called “appetite” for new residential listings for the month. If New and Pending are equal, it represents an eager demand. If New is less than Pending, supply will vanish if it continues.
Sold over Active listings render the calculation called “turnover” of residential listings for the month. If Active and Sold are equal, it represents an eager demand. If Active is less than Sold, supply will vanish if it continues.
Cancellation of a listing (or Expiration) doesn’t mean it doesn’t come back.