While the volume of bank-owned sales is on the decline for the greater Bay Area (26.7 percent of sales in June, the lowest since April 2008 and down from 36.7 percent in June 2009), the number of bank-owned (92) and short sale listings (180) in San Francisco has trended up to 272, a new absolute high although only 15% of all active listings.
∙ San Francisco Recorded Sales Activity In June: Up 2.1% YOY [SocketSite]
∙ SocketSite’s San Francisco Listed Housing Inventory: 7/12/10 [SocketSite]
And it would be really nice if after we get offers that these same banks wouldn’t sit on their hands for six months before they render a decision.
M.R.
Nice to see all that pent up supply coming on line.
Yea, I think this could be a game-changer. Most important stat to keep track of here.