Part of my morning ritual for the past couple years (has it been that long!?) has been to record and chart the San Diego inventory and foreclosure numbers. I then use this as a gross meter for what’s going on. The percentage of foreclosures had been in the mid-20% and the total number in the high 5K, but suddenly has dropped down to 3K and then a couple days later to 2.5K.
I’m not a tin-foil hat guy, but is there an explanation? It this just a book keeping change at foreclosure.com? I’m a big believer in what Rich calls “must sell” inventory being the driver of prices and this is the best gross indicator I watch. (Oh yeah, another great foreclosure site is: http://www.foreclosureforum.com/stats.html
.
