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Sacramento REO Statistics...

The number of REO (a term for bank-owned / foreclosed property) listings in Sacramento has grown exponentially over the last year. If ya'll read my blog, you will know that I love stats. There are some interesting, yet predictable, trends with bank-owned property in Sacramento...

For the new reader of this blog - Sacramento is full of micro-markets. The mass media doom and gloom has its place in certain micro-markets here, but does not equally affect the entire Sacramento metro area. I don't want to bore everyone with a reiteration of the same old stuff, so for you folks who want to brush up on 'Erin's Real Estate Principles 101', you can check out some past posts.

Anyway, so let's explore REO inventory trends in Sacramento County. This first graph illustrates REO inventory for the entire county. You can notice the obvious upward trend...also take note that it seems that many buyers are taking advantage of this excess inventory and snagging these (note the sold and pending sales).

Sacramento REO / Foreclosure Inventory

Sacramento County REO Listing Inventory

Now let's explore REO inventory trends in Elk Grove...you will see that this second graph illustrates that there has also been an exponential increast in Elk Grove REO property. If you put this graph side-by-side with the overall Sacramento REO inventory trend, they almost look identical.

Elk Grove REO / Foreclosure inventory
Elk Grove REO Listing Inventory
Finally - let's take a look at the Sacramento core area - midtown / downtown Sacramento, Land Park, Curtis Park, East Sacramento, etc. Need I explain the difference?
Land Park, East Sacramento, Curtis Park, Midtown, Downtown Sacramento REO Inventory
Sacramento Core - Downtown / Midtown Sacramento, East Sacramento, Land Park, Curtis Park REO Inventory
Posted Thursday Jan 17
( 01/26/08 10:56AM ) — Norm Robert

Great post Erin, it clearly shows a positive trend in increased sales recently.  I'd like to focus on your first 2 graphs, specifically since September 07. This is no longer exponential growth! When looking at the statistics it is the rate of increase that is most important. If you like statistics then you know that when the rate of increase decreases (this is the difference between on month and the next) it is a sign of leveling off which eventually leads to a decrease in inventory and off we go! The market is rapidly approaching bottom and with rates at a four year low it is absoutely a great time to buy.

( 01/26/08 11:46AM ) — Ed Tse

Look at the small rate of selling, could you tell me why the lenders keep holding REO?

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