Update: What’s happened to short sales in Temecula?

Reynolds Realty Group News

 

Distressed vs Standard Sale Properties In Temecula

What’s happened to short sales and what’s happening with the standard sale market in Temecula? While the number of standard sale properties on the market and the number of sales has decreased over the same period 6 months ago, both are about the same as the same period 1 year ago, and have both increased dramatically over the last 2-4 years.

At the same time, numbers of distressed properties (short sales, bank owned, etc.) listed for sale and sold continue to drop dramatically over the last 1-4 years. Listings in January 2015 decreased almost 30% over 1 year ago, and sales decreased almost 37%. Compared to 2 years ago, there was almost a 95% drop in listings and just over 121% drop compared to this month’s figures, and an astonishing 452.11% listings / 231% sales decline over the same month 4 years ago!

What’s it all mean? Less inventory and sales all the way around, but far greater availability of standard sale properties compared to distressed properties. Why? We’d love to hear your thoughts! But in the meantime, here’s what 5 top economists have to say about the 2015 real estate market*.

Standard Sale vs Distressed Sales In Temecula (Data)

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Standard Sale: Listings & Sales Over The Last 4 Years (Graph)

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Distressed Sale: Listings & Sales Over The Last 4 Years (Graph)

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Source: Inman News, “5 economists forecast the 2015 housing market”


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