MoCoRealEstate

Housing Inventory Creeping Upwards

October 18th, 2010 Categories: Foreclosures, Market Updates

The total housing inventory and the total percentage of distressed sales inched up again in October.

Inventory is up 2.2% from this time last month, and is over 29% higher than last year.  At this rate, year-end inventory will match the levels last seen in January of 2009.

Increasing levels of distress properties indicates that our market still has more work ahead of it to get back to “normal”.  Distress inventory is up 30% from January is about the same percentage from January. [Note – the values on the chart are correct, but the % calculation was corrected on Jan 2011. Sorry about that.] Here’s a breakdown of short sale and bank-owned properties that make up this month’s total:

These statistics may look at bit glum, but our market did improve this year.  Watch our video that provides a comprehensive summary of our 2010 real estate market.  Do you have questions about specific area of Montgomery County?  Contact us and we would be happy to help.

Posted by Bruce Lemieux

This entry was posted on Monday, October 18th, 2010 at 11:07 am and is filed under Foreclosures, Market Updates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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