Its been a while since I posted the number of homes for sale in the Inland Empire/Foothill corridor area of Southern California. We are two weeks in to 2012 and the news is that home sales are up. Is inventory up too? Well not yet but we are about 6 – 8 weeks from the start of the Spring selling season so let’s take a look at how many homes are for sale right now. Why is this important? For the same reason you get a checkup at the doctor’s office, it’s good to know how healthy you are.
Upland has 207 homes for sale – 61 are short sales and 29 are REO’s (bank owned)
Rancho Cucamonga – 454 homes for sale – 220 short sales and 47 REO
Ontario – 377 homes for sale – 199 short sales and 52 REO
Montclair – 56 homes for sale – 28 short sales and 3 REO
Fontana – 574 homes for sale – 301 short sales and 67 REO
Claremont – 89 homes for sale – 21 short sales and 5 REO
La Verne – 86 homes for sale – 26 short sales and 7 REO
Pomona – 355 homes for sale – 175 short sales and 47 REO
San Dimas – 99 homes for sale – 29 short sales and 11 REO
Total homes for sale – 2297. Short sales – 1060 and REO – 268
Overall, 46% of homes for sale today are short sales and only 11% are REO, 43% are standard sale.
But wait, didn’t the banks foreclose on 1000′s of homes in southern California the last week of 2011? Yes, but they have not hit the market yet. At the end of the 1st quarter we will take another look at the numbers. Real estate has always been a numbers game, by keeping track of the numbers we will have a good idea about the health of the real estate market.
