[quote=temeculaguy]Those people not behind in payments and not in any form of distress are opting to not compete with reo prices. [/quote]
…for now. Some of those with a portion of the $300 billion is CA option ARMs resetting this year will soon be forced to list. They may think housing will recover in 3 months.
The realtytrac quote at a glance sounds like NODs are on the decline. Maybe, maybe not. Seems unlikely, but could be temporary, or could be more paper work than can be handled. The “phantom” inventory issue is a heated topic here.
But either way, foreclosure numbers across the board are still rising. At some point that inventory has to come to market.