Distressed Inventory Report 8-21-10
The same trend continues as last week. It appears that both foreclosures and Notice of Trustee Sales have peaked. Again as I mentioned last week I am not sure if this is due to the seasonal work load of the loan servicers going on vacation but we will know by the third week in September.
The one trend that is interesting is that a lot of the reduction in inventory was for the Notice of Trustee Sale, it appears some of these homes are selling and some of these short sales actually closing. The last few months has seen this number steadly rise. Again it appears to be falling. A fall in this number was a sign the market was picking up like what happened last spring but I am not sensing that on a day to day basis yet. Let’s see what happens.
The spreadsheet is here: Bellevue Foreclosure Report 8-21-10