REO Listings on the Rise?
Posted By Jim the Realtor On July 14, 2009 @ 10:01 am In Foreclosures/REOs,Thinking of Buying? | 12 Comments
Still looking for signs of the foreclosure tsunami beginning – now that the MLS requires that REOs be marked clearly, it’ll be easier to track. Here are the number of new detached REO listings, per week in San Diego County:
| Recent Week | New REOs | # Already Marked PEND/CONT |
| June 10-16 | ||
| June 17-23 | ||
| June 24-30 | ||
| July 1-7 | ||
| July 7-14 | ||
| Totals |
The new REO listings are flying off the shelf, relatively.
Of those listed since June 10th, 63% have already been marked contingent or pending. There have been 2,567 non-REOs listed in the same time period, and only 30% of those have found a buyer.
Add a price parameter of $800,000+ to detached listings since June 10th:
| REO/Non-REO | # of New Listings over $800K | # Marked PEND/CONT |
| REOs | ||
| Non-REOs |
But with 3,715 NODs filed in June, it’s likely that we’ll be seeing more REO listings!
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