Real Estate and Homes Sales in Clark County Still Challenged with Distressed Properties

We are now far enough into February 2012 to take a snap-shot look at the Clark County WA real estate results for January 2012. What you'll find in the table below are the approximate number of listings Active, Pending and Sold at the end of the month. The columns then break out the elements by Categories: Total Homes; Short Sales and PreForeclosures; Foreclosures (Bank Owned).

Without too much analysis in this report (the more in-depth report is due out next week - stay tuned!) we see that the total Inventory is way down from prior years; with Closed Sales down (typical for January) to a near-term low; although the Pending Sales were quite strong.

The Distressed Property results are the most challenging to the housing recovery for the Clark County real estate market. With Short Sales and Bank Owned properties combined running at 53% to 54% for Pending and Sold listings, the ability to heal the market quickly faces some tough hurdles.

For Home Buyers with a good source(s) of income this is probably the best time to purchase a house or investment property in decades.

For Home Sellers, this type of market is the near-term "normal." Do you want to sell now at the market price or, bet that that the market prices won't slip further? -- not an easy call.

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This report was prepared by John Slocum, Realtor & Broker with Vancouver WA REMAX. The data provided by the RMLS is deemed reliable but not guaranteed.