I don’t know. It could be related to days between reports. There aren’t consistent 7-day gaps between the reports. The latest report had a 9-day gap from the prior report as did the August 8 report.
Here is the figure with the last two weeks data included. I would agree that the weekly variation includes quite a bit of noise, what is becoming apparrent now that we have enough weeks data to look at is that there is an overall trend upward, not “skyrocketing”, but it is increasing – the last time there was a week with less than 100 REO’s was the 10th to 17th of July and in some weeks it is substantially higher than that. The same is true of the other two numbers as well – July 2 was the low point. For the past 7 weeks, we have averaged 148 REO’s per week, for the 7 weeks prior to that it was 108.
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[img_assist|nid=4575|title= NOD’s, NOT’s and REO’s|desc=|link=node|align=left|width=466|height=242]
So, correct me if I’m wrong but it looks as though we’re going to break the vaunted 1,000/month NOT level for September for the first time here in San Diego County. Congratulations all!
Now, let’s see what impact this will have on prices going forward…
The NOD list from my Title rep this week was 162 pages long which is a considerable jump in size. The number of NOD’s in the lower income areas (Chula Vista, National City, El Cajon, Escondido, Oceanside etc.) is simply staggering. The more desireable areas continue to have very few NOD’s.
The NOD list from my Title rep this week was 162 pages long which is a considerable jump in size. The number of NOD’s in the lower income areas (Chula Vista, National City, El Cajon, Escondido, Oceanside etc.) is simply staggering. The more desireable areas continue to have very few NOD’s.
