The number of Seattle bank-owned homes listed on the NWMLS has remained fairly steady throughout the month of June. Even though we have been hearing about total foreclosure numbers rising, the numbers of those homes that are being released on the market by the banks haven't reacted quite yet.
At the start of of June, there were around 100 bank-owned homes in Seattle on the MLS, and about 180 total bank-owned homes when Bellevue, Kirkland, Redmond, and Shoreline are included. As we reach the end of June, the numbers are virtually the same, with just a handful of new foreclosed homes on the MLS. So, where are these foreclosures? Are they being held back by the banks, or are there not as many foreclosures actually proceeding to auction as are being claimed?
Sam DeBord and Brian Wiegand
Seattle Homes and Seattle Condos for sale on SeattleHome.com
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