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Thursday, July 28, 2011

Inventory Watch 7/27/11-15% decline in active listings since 5/11/11

Residential Inventory-  (Areas 307-399 Coachella Valley)

Active:  5995                                        As of 5/11/11

Active:  5907                                        As of 5/18/11

Active:  5883       Pending:   858         As of 5/25/11

Active:  5634       Pending:  1106        As of 6/01/11

Active:  5491       Pending:  1082        As of 6/15/11

Active:  5372       Pending:  1051        As of 6/22/11

Active:  5361       Pending:  1056        As of 6/29/11

Active:  5202       Pending:  1025        As of 7/06/11

Active:  5124        Pending:  1017        As of 7/13/11

Active:  5123       Pending:  1026        As of 7/20/11

Active:  5085       Pending:   994          As of 7/27/11   (15% decline in Active listings since 5/11/11)

(These figures do not include mobile homes)

“Valley home sales, prices fall in June”  according to an article yesterdays Desert Sun.  But don’t let that headline fool you.  The market is still much stronger locally than it was this time last year.  Home sales in the valley were only down 1% compared to declines of 14.7% in Riverside County, 14% in Southern California, and 11.3% statewide in June.  Other positive signs were that only 48% of SFR sales in the valley were REO’s or Short-Sales, down from 56% in June 2010.  Plus there was an increase in sales over $300,000.