Here is the sales breakdown for Ventura County for July 2009. I expect some late reporters to increase the total sales just a bit but I don't think July 2009 will beat July 2008 in terms of sales. Sales level seem to have hit their peak so far. I don't think that will change unless servicers get extra motivated on short sales or new foreclosure inventory comes on market. By looking at the weekly inventory reports posted every Saturday here we can see that the inventory decline seems to be over. It also appears like pendings and contingents have peaked for Ventura County. Short Sales did show their highest levels since I've been measuring them. While foreclosures have been declining as a percentage of sales I would expect that percentage to increase around Octobers numbers through next February as higher supply meets lowered seasonal demand.
2 comments:
Just to clarify. For "short sale" are you using list price less than last sales price or new sales price versus outstanding mortgage? TIA.
Rob,
Short sale is a flag in the MLS indicating that the sale price is less than is owed the lender and the seller is unable or unwilling to make up the difference.
Post a Comment