I've been saying for weeks that the Sacramento Real Estate Inventory was down. Here's some more proof straight from the horse's mouth! This graph from the Countrywide Foreclosure Blog(I sell REO's for Countrywide) shows a dramatic decrease in their inventory of bank owned homes. Stunning, huh?
Odd that you don't see this in the media...
Now, I'm not saying that this is going to "fix" our market. But it will have a huge effect on it and I am curious to see what happens. Supply and Demand seems to be turned on its head in Sacto anyways.
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