Actually no! We have been experienced unusually LOW inventory until August and we now see a very stable set of listings on the market. Most of those still on the market are typically overpriced or needing work and buyers are tending toward the fully remodeled properties as we had so many investors come in for the fix and flip. The short sales and Foreclosures have slowed dramatically. in fact the reports are showing our foreclosure numbers below 2005! One of the reasons we are not seeing another dip is that our housing values have increased in the last 18 months as much as 35% in some areas. I had a seller that I met in March of this year expecting to do a short sale, and since timing was not critical to her, I recommended she wait a bit. We just closed her home last week and she closed RECEIVING a check instead of having a short sale on her record!
Melissa Schwartz, e-Pro
Realty ONE Group