Yep there is no doubt that 07 has seen a whopping change of distress verses non distress selling profiles. Also there is no argument that there are tons of foreclosures as well that are not on the market. However, who is to say that those same foreclosures were not on the market in 06?
My point is this… First off yes don’t get to bound up by inventory going up or down or sideways or whatever. As long as it is high that is good for potential buyers and we all would agree that for San Diego, the new threshold seems to be in the 15k-23k range depending on the season yeah? Others will MLS access can verify or comment.
Also once more yes there are lots of foreclosures, not many in the places I want to live in… but a few here and there and that is encouraging as well…
I think that trying to get exact numbers at least using the MLS is tough. It is grinding, and it is manual and it is not to accurate. The most inciteful tool we have is sdr’s short sale monitor and that gives a VERY valuable ratio of shorts to not short listings. This is great because it also has been captured and displayed visually so we have a nice trend line to follow. thanks to artifact.
So yeah hopefully all these foreclosures will help to bring overall pricing down…. moreover in the neighborhoods we are all interested in… that may take awhile longer to happen.
