Banks are aggressively trying to reduce their inventory and there are a lot of buyers submitting offers on these and other homes. My momentum indicators are no guarantee of how a market will change in the coming months but they are leveling off in many areas like REO sales (indicator of bank-owned inventory) and Notices of Default (indicator of new, possible foreclosures). Likewise, the number of resales is increasing at an increasing rate (momentum heading upward). County-wide median prices are low but some resilient zipcodes (Fair Oaks, Folsom, Granite Bay) are doing better.
Read the rest of the story here: http://JayEmerson.com/Indicators.asp
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I am a Broker who represents sellers and buyers of residential homes in Sacramento, El Dorado, and Placer Counties. As a consultant, my clients' requirements rule.
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