It’s true! Foreclosure activity has been down since January and inventory is low. There is some speculation this may have to do with the pending agreement being reached with the various banks regarding their improper foreclosure activity with the states, but we’ve never seen the flood of inventory we’ve been expecting since 2007, and it may never happen.
From DS News
Year-over-year, the number of completed foreclosures decreased about 19 percent to 69,000 in March 2012 compared to 85,000 in March 2011, according to CoreLogic's National Foreclosure Report for March. Month-over-month, with the number of completed foreclosures in February 2012 at 66,000, foreclosures increased about 4.5 percent. In addition to the yearly decrease in completed foreclosures, the number of loans in the foreclosure inventory decreased by nearly 6 percent, or 100,000, in March 2012 compared to the year before. » Read More
SUNIL SETHI REAL ESTATE