Take a look at an analysis that one of my colleagues at Your Castle Real Estate did. It’s an analysis of active inventory.
– Only 6,200 homes active on the market… 12 year low
– Only 460 are bank owned, or 7% of the market. REO (bank owned) are the exception now.
– 640 short sale listings… less than I would have expected
– There are almost 4,000 homes that are Under Contract or Pending.
What does this mean? It’s a great time to be listing a house! Especially under $250K.