Inventory pattern is currently stable for Benicia and Vallejo.

We have seen a shrinking inventory for the last year.  In Vallejo we have gone from 1,500 active home listings to 225 homes.  In Benicia, 100 active home listings to recently 60.

However, the pattern appears to be changing again.  The last couple of weeks inventory is staying about the same.  What is going on?

When we look at the sales data, it is similar as before.  However, when we look at “New Listings” they are up.  

My conclusion is that the post moratorium release of foreclosed homes is the main cause for the additional listings.  Also, there are an unusually high amount of “Failed Sales”.  This appears to be caused from financing issues and appraisal issues.

I expect this pattern to continue for the next couple of months.

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