Buyer Demand Wiping Out REOs at Irvine Housing and Local Real Estate Market

Buyer Demand is Wiping Out REOs at the Irvine Housing and Local Real Estate Market. Trend for local market shows huge buyer demand for REO homes and that the market doesn't have enough listings to support.

• Homes sold at Irvine, CA, last thirty days (ending September 29, 2009) - 170 homes
• Regular equity sales last thirty days - 131
• REO homes sold last thirty days - 16
• Short listings sold last thirty days - 23
• More than half of homes sold were between $500k to $1 million

Irvine homes now listed for sale at SoCal MLS ~ 506 homes for sale (not enough). 345 of those for sale are equity sales (not enough). Only 14 homes listed are REOs (not enough).

Buyers and Investors wants REO homes, and Orange County REOs are selling like hot cakes and for more than asking price during this time.

What this means ~

• Irvine doesn't have enough REO listings now to support buyer and investor demand.
• Buyer Demand is Wiping Out REOs at the Irvine Housing and Local Real Estate Market.
• Trend for local market shows huge buyer demand for REO homes and that the market doesn't have enough listings to support.

NOTE TO BANK OWNERS AT IRVINE ~ If you are holding back bank owned homes for Irvine, get organized and on the market now and as soon as possible.

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Please contact us if you want information about Irvine homes and real estate. Thanks. Harrison K. Long, Explore Group, Coldwell Banker Previews, Irvine, CA. - email - ExploreProperties@gmail.com.

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Visit is again at Explore The OC Blog for future posts on TRENDS at IRVINE HOUSING and local REAL ESTATE MARKET.