What’s Up- Pending Sales - June 2010 vs. June 2011
Pending Sales up 41% in Riverside County - 29%
increase in San Bernardino County.
What’s Down - Inventory for Sale - June 2010 vs. June 2011
Homes for sale in Riverside County down51%, in San Bernardino County the available homes for sale fell 57%
The Fed’s are in control of the banks; the banks are in control of so called shadow inventory of homes that currently exist. Perhaps just as important, the banks are now moving to a faster, more simplified short sale process while slowing the supply of foreclosed homes going on the market.
Demand is high; buyers are actively looking to buy a home while interest rates are low.
Is this the end of the home price decline? The banks are in control.
Questions or comments are welcome. gteeters@coldwellbanker.com
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