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Tsunami of REO's

It’s being broadcasted in the news “There will be another wave of foreclosures” but the truth of the matter is the “Tsunami” of foreclosures might never hit us.

With consumer confidence up, and REO or Bank owned homes selling in a day or sometimes in a matter of hours…The banks and government cannot afford to flood the market with Bank Owned homes.

In some areas of Southern California, the current inventory of homes has decreased from an outrageous 25 month supply to a low 2.2 month supply making a lot of areas a Normal Market!

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Have you ever wonder what percentage of homes are selling in Rancho Cucamonga and the surrounding areas in comparison to the number of homes that are being listed during the month of June, 2009.  We have taken the time to prepare a graph that will show you exactly how many homes are being listed in Rancho Cucamonga,  La Verne, Upland, San Dimas and other areas close to Rancho Cucamonga.

Also, in the graph below, you will see what percentage of listings are expiring during June 2009 and what percentage of homes are being kept vacant.

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