Inventory Is Down 33 Percent in Orange County
Orange County has dropped 33 percent on the number of listings comparied to the begining of 2011. The sellers are not coming on the market as they have in the past. To be sure we have not seen this since 2005. Some believe this will drive prices up. Yet we have not seen that happening.
As I look at the blogs on Active Rain I see that many of the blogs note a drop in there areas as well. If the market is picking up. I do not see it. We need consumer confidence and we need jobs. We are not seeing the turn arround that normally would have been seen in a traditiioal market turn arround.
We are also experiencing the lowest inventory of REO or short sale properties (distressed properties). So we will watch and see what how this is all going to flush out.
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