Distressed Inventory in Hampton Roads Continues Decline

This week, distressed properties as a percentage of overall market inventory for Southside Hampton Roads continued the decline started the first week of January. Of overall inventory, 8.56% is REO and an additional 12.84% is SHORT SALE totaling 21.40% distressed properties.

So for Southside Hampton Roads, for every 5 houses on the market, only 1 is an REO or Short Sale listing. This would seem to indicate the market is rebounding, or at the very minimum, the asset managers are getting a better grip on managing inventory for optimal market performance.