Short sales seem to be making their mark in this economy and for the moment seem to be here to stay. With no end in sight the continuous growth of Short sales are making up the bulk of the MLS inventory. 24 months ago short sales made up a quarter of the inventory, banks were not competitively pricing them to sell which meant a low interest level to move these properties. Today we are slowly seeing a small shift as reluctant banks begin aggressively pricing properties to sell. We still have a long road ahead of us and it will take time for the banks to accept a reduction in price from any home owner who is going through the Short sale process.

Short Sale Snapshot