Last month I started reporting the number of homes for sale in Upland, Rancho Cucamonga, Claremont, Ontario and Fontana. I also reported the number of short sales and Bank owned (REO) listings. Those numbers gave us a benchmark to track the sales and listing activity for 2010.
Let’s take a look at where we are in the Real Estate market today.
Upland is coming in with 152 total listings. 40 are short sales and 17 are REO.
Rancho Cucamonga is at 332 listings. 152 are short sales and 51 are REO.
Ontario has 284 listings. 157 are short sales and 47 are REO.
Claremont is at 68 listings. 10 are short sales and only 1 REO.
Fontana is at 487 total listings. 272 are short sales and 89 are REO.
So what does this tell us from my January 5th post?
Upland, Rancho and Fontana had a spike in new listings in the last month. While Ontario and Claremont declined slightly in total listings.
Short sales are on the rise in all cities except Claremont.
And the number you have all been waiting for: REO’s, the dreaded bank inventory is DOWN in all 5 cities!
Draw your own conclusions, my take from this is that we are just starting to see the tip of the iceberg in regards to short sales hitting the market.
Buckle up, this is going to be a bumpy ride!
