Manipulated Seller's Market in the Inland Empire

Looks like the inventory is still causing it to be a type of seller's market (with the banks controlling most of the homes for sale weather it be foreclosed homes or short sales, in my opinion it is a manipulated seller's market). The banks not letting some of their inventory hit the market coupled with the banks increased willingness to work with homeowners on short sales and loan modifications, it appears that there is more stability in pricing. As long as the interest rate remains low, the affordability is high, which means that more people can afford the average price of homes in their area, 64% affordability in the 4th quarter. With the inventory being under 3 months for most areas we still have multiple offers on most properties. Since July of 2009 we have had minimal inventory. There were only about 2-4 months worth of inventory. (this is calculated by the amount of homes that are available for sale divided by the number of homes sold for in the previous month.) These facts I believe are what is causing our market to remain stable and showing some increases in pricing. For those of you who have the ability to purchase, it definitely is still the time to purchase a new home or investment property. If you are thinking of buying or selling give me a call so that I can provide you with specific information of your area.

Diana Margala 909-560-0145