April in SoCal.
Typified by very little change in almost any category (except closings which dropped substantially), our buyers are having a terrible time finding homes to buy. Inventory is under 4.5 months and almost 60% of that is distressed. Buyers are not qualifying for as much home as they used to get, and FHA just got a smidgen tougher too. Cash is still there representing an estimated 20 to 25% of the $200,000 $300,000 market.
Here are the numbers in a nutshell.....
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