Distressed Inventory Report 11-21-09
The distressed inventory is still treading water with no real break out trend other than it appears the swimmer is starting to get tired. East Bellevue this week saw its overall inventory rise by one home to an all time of 100 homes which can be categorized as distressed. However its NTS/Foreclosure ratio fell to is lowest level of 1.0. As I have said before this trend has to break one way or the other and so far it is just prolonging itself with no clear direction. West Bellevue is stuck at the same numbers as last week. No clear direction there. South Bellevue was the only that broke a little bit to the downward side and had a clear direction this week. Its inventory and NTS/foreclosure ratio were both up. The move was slight with the overall inventory up by only two homes and the NTS/Foreclosure ratio bumped up from .91 to 1.00. For a clear downward trend to emerge that ratio needs to go over 1.00 which indicates more preforeclosure NTS inventory entering the system which will ultimately increase the number of bank owned homes. Like the economy overall no clear trends just a real muddle.
The XL chart is on the link below.