I personally don’t think the bank is holding back any of this “phantom” inventory by choice. With the low end going gang buster, now would be the perfect time to let loose some of those “phantom” inventory, but they’re not. Which is why I think they can’t. Based on many foreclosure tracking websites, Mira Mesa is still red hot with foreclosure (NOD, NOT, REO). Yet, the current supply is dwindling. As of right now, there’s only 59 SFH and 75 condo for sale. That’s ridiculously low IMHO. With a few people predicting the flood gate will be let loose soon, any projection as to when?
