Wednesday, August 20, 2008
- Over the past year, the inventory of lender-mediated properties for sale has almost doubled, while traditional inventory has declined by 16 percent.
- Of all current active properties for sale, 21.7 percent are foreclosures or short sales.
- Traditional homes continue to hold their value better than foreclosures and short sales. The Q2 median sales price of foreclosures and short sales has fallen by 11.7 percent in the last two years while traditional homes has declined by only 3.4 percent.
Data on the right (from Calculated Risk) shows that the overbuilding of 2004-06 has yet to be worked out nationally. The same appears to be true for the Twin Cities.