A recent article on Inman News covered the decline of the Short Sales and Foreclosed homes in 2013. Will this trend continue in 2014?
2011 and 2012 were known as the years of the distressed sale. According to the California Association of Realtors, October 2012 saw distressed sales account for 36.8% of all sales across the state. But in a change that indicates a strengthening housing market, that number fell dramatically to 14.5% of total home sales in October 2013.
A big part of the decline is the overall decline in inventory, not just distressed inventory. Here in San Diego, were looking at about a 2 month supply of available homes for sale. A healthy housing market will generall have about 5-6 months worth of available inventory at any given time.
To read the entire article on Inman News, click here. For short sale and foreclosure information in the San Diego area, feel free to contact us anytime.