Thursday, April 18, 2013

Continuing Decline in "Distressed" Property Sales

Continuing and widening a trend we've been seeing for some time now in San Francisco, ForeclosureRadar is reporting the lowest number of sales of distressed properties (i.e. REO and short sales) in California since 2008.

The caption below the graphic indicates some confusion on their part as to the cause.  At least here in San Francisco it's pretty simple:  
(low inventory) + (high demand) + (lowest unemployment rate since 2008) = rising sales prices, rising property values, and more people able to keep up with their mortgage payments.

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