When I look in the areas, price ranges, home size, etc. that I’m interested in I don’t see a lot of inventory build up. Do this (which is what I did):
– Go to Redfin
– Set your search criteria. Look only at active listings.
– Sort by “Days”
What I found was a number of homes that had been on the market less than 10 days, then it pretty quickly jumped to homes that had been on the market more than 30 days. The conclusion is the good stuff is going fast, and the over priced/backs to a busy street/raw sewage in the LR stuff is sitting.
My personal buying experience matches this. The few well priced, equity sale properties that I’ve been involved with are selling over their low list (though not over their high list) with multiple, well qualified bidders.
I also see prices on SSs and REOs creeping up, some times to crazy levels. Banks are expecting top dollar for that green pool.
Who knows if this will continue, but it sure sucks right now for a buyer.
