Tuesday, November 4, 2008

Chart of Distressed Homes for Sale

Distressed Home Chart Nov 1

This chart shows the percentage of homes for sale that are either bank-owned or short sales. The premise is that, generally speaking, these types of listings will drop their prices at a faster pace than a typical seller. Not surprisingly, the areas with the highest levels of distressed inventory have seen the steepest price declines.

More interesting is the rapidly-changing mix of homes for sale in Livermore (or other places with similar prices and demographics). Also, notice the trend upwards in Danville and Orinda as foreclosures are becoming more prevalent in higher-end areas.