Its hard to believe but another month has gone by. Reviewing the current single family inventory being marketed, we are posting about 1,800 REO homes and 3,700 short sale homes that are not under contract. Relfecting on the year so far, we have witness abrupt changes in the marketplace, from slow sales at falling prices to strong sales at leveling prices. We have observed a switch in the inventory levels from REO's dominating to short sales dominating the inventory. Inventories in both categories went cliff diving in the spring and have leveled off since this summer. We expect short sales to continue to be an increasing proportion of sales, partly a function of what is available and partly due to refined processes accellarating the approval times.

Source: Mlxchange. Coldwell Banker Premier Realty.

 We are still seeing a large amount of inventory under contract. There is as many single family homes under contract as there are on the active market. Many of these are awaiting short sale approvals. Not all of the sales for November are in, so we should see an increase in sales throughout this week, however preliminary numbers indicate that sales remained strong into November. These months are traditionally slower so these figures are reassuring. Pending sales remains flat but elevated so December may enjoy above average sales as well. The ratio of homes sales to active inventory is slipping a little, but we expected that for the winter months.

Source: Mlxchange. Coldwell Banker Premier Realty.