It’s a combination of things, banks are overworked, repos don’t mimmic the selling season and most importantly, we are at the tail end of the selling season, so the pressure is on for those who want to close in time for school. And it could be a glitch for the exact search you ran but i am seeing dwindling inventory in my neck of the woods which is supposed to be foreclosure wasteland. People are buying the well priced onesand the ones that turn my head have not survived their first day listed, I was pissed but then started to realize as the pool of fence sitters dries up, seasonal demand falls, the repos will still hit the market at the same or an increased rate, so look for the tables to turn in the fall.

In a normal market the sellers want to sell during the spring/summer so the inventory rises along with demand, banks aren’t switching schools and their employees take more vacations this time of year so it’s creating an unusual scenario that the R/E crowd is trying to hype and it is actually factual but wont be long lived. Things will start tapering off any day now, we are 45-60 days until school starts.