Nice synopsis SD R. The short sale monitor was never intended to truly measure the number of short sales but rather as a means of tracking distress in the marketplace. Based upon the data I have tracked thus far distress has grown faster than total inventory. Currently distress sales are growing while total inventory looks to have peaked already. That is a very important point to reach IMO. If distress sales grow and inventory decreases the impact of these these distress sales on the greater market will increase.
