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Soft to Softer in the Inland Empire
I just read the MLS statistics for the Inland Valley Board of Realtors and all I can say is that the market is getting softer and softer in the Inland Empire of California.
Active Listing have dropped 17.7% from Sep 06 to Sep 07 with a 20.9% drop from Aug 07 to Sep 07. The Closed transactions dropped even more dramatically, 41.7% from Sep 06 to Sep 07 with a 21.8% drop from Aug 07 to Sep 07. The ratio of Active Listings to Pending Listings has dropped 8% from 06 to 07.
This information will hit the media in the next couple weeks as it always does.
Here is a sample of some of the stats,
Pending Listings Sold Listings Percent Change
July 06 5,895 5,261 -29.1
July 07 4,180 3,325 -36.8%
August 06 6,144 3,830 -37.7
August 07 5,955 3,399 -42.9%
September 06 5,141 2,996 -37.7
September 07 5,002 1,949 -42.9%
To further illustrate where the market is headed I have included some stats from Foreclosureradar.com about Notice of Defaults (NOD's) and Foreclosure Sales
Notice of Defaults Notice of Sale Cancellation of Sale
June 07 2,038 1,034 245
July 07 2,272 1,253 271
August 07 2,693 1,295 282
... more
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