How much of the new home inventories are still left in 4s area? Will the re-sale homes in that area continue to feel downward/negative price pressure once the new home inventories clear up?
A realtor tells me that most of the foreclosed/REO properties have been sold. I did a rough scan and it seems a lot of them have indeed sold recently. Someone in this thread suggested that “distress list” in 4S in not growing as fast now. Hence if the supply of REOs/defaults are not growing and if the current homeowners are not in pressure to sell, why would there be a downward trend?
