Ok last post. I just ran a search on how many active listings should drop off immediately when the change is implemented at it is about 2600 which is approximately 20%. There are also a ton of short sale listings that are not properly entered as having an offer accepted pending lender approval. I know for a fact that the #1 agent with over 200 short sale listings has a current stated policy of not accepting any offers and just letting them pile up. Hopefully there will be efforts to get all agents to comply with acknowledging they have accepted/received an offer. My guestimate is that it would take another 10% off the total.
