Cowlitz County Foreclosure Home Sales - First Half 2011
Cowliz County foreclosure home sales reached the highest point this first part of 2011, at a 47 percent on average for the first six months, compared to 29 percent in 2010. I have been in real estate since 2003 and this is definitely the highest foreclosure market activity I have seen in the local market. The highest point was in April when 63 percent of residential home sales were foreclosures, in May and June the percent dropped to 44 and 48 percent still way higher than we like to see it.
The over all Cowlitz County home sales have remain steadily the same in the past few years but a the same time foreclosures have increased at a high rate however a good sign that the foreclosure market may be slowing down is that currently there is only 104 residential bank own properties on the market compared to 151 in early April, 41 of the 104 currently on market are pending (under contract).
According to experts it may take few more years before the real estate market go back to normal but for now the foreclosure market is shrinking and with it the opportunities for home buyers. For those waiting for the market to hit bottom this may be a good indicator that the real estate market may be slowly on the way to adjusting to normal and may be a good time to take action, inventory still high, prices are low and interest rate still history low.
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