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Thursday
22Oct2009

Regular sales are the main force as banks hide delinquencies

DateThursday, October 22, 2009 at 07:06AM

Banks are not foreclosing on many delinquent homeowners.  Bank owned homes for sale are not showing up in the numbers we had all expected to see.

San Diego bank owned homes for sale are declining, because there are fewer San Diego bank owned homes for sale.  In short, we have a supply shortage.  Sales are down in the most popular under-300k price segments.  REOs remain low in the upper price segments, where regular sales make up the majority of listings and sales.

 San Diego bank owned homes sold June - Sept 2009

 Meanwhile, regular sales remain over half the market, both in terms of new listings and sales.

San Diego homes sold by price range, REO, short sale, regular

 For homes over $500,000, the market is mainly made of regular listings and sales.  Here, the above chart for homes over $600k

San Diego homes sold versus homes listed for sale, September 2009

AuthorSchahrzad Berkland | CommentPost a Comment |

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