Wednesday, August 12, 2009

Foreclosures and statistics

For those of you waiting for an increase in home inventory due to foreclosures, and sure that the banks are going to dump a bunch on the market any minute, here's the latest from Realtors who handle many bank-owned properties: it's going to be a trickle, not a flood. One of the reasons: the banks don't want to dump a lot of houses on the market at once because it will depress prices further.

And Market Metrics has come out with this statistic: there is only a month-and-a-half supply of inventory right now in the SFV. No surprise. The supply of houses for sale is as low as I've ever seen it, not counting brand new condos.

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