I’m watching select parts of OC and I’m seeing the opposite. Prices, particularly asking prices, are going the other way. The few sales, that’s the key, are relatively flat or slightly up based on the surge of tax buys. Otherwise, when the sellers don’t get their wishing price, they just take it off the market. The banks just look at the comps from the last six months and that’s the price.
It’s a very stagnant market from a price standpoint. The only exception are the equity sellers that command a premium for being able to actually sell.
