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|
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|
But with 3,715 NODs filed in June, it’s likely that we’ll be seeing more REO listings!