Tag Archives: Calif. Sales Fall Due to Big Drops in REOs

Fewer distressed homes on the market are contributing to inventory shortages in California, the California Association of REALTORS® reports. CAR reported that its Pending Home Sales Index dropped 3.8 percent from May to June. Still, it was up 4.7 percent year-over-year. REOs made up 20.2 percent of the state’s pending home sales in June, which is a decline from 29.2 percent a year ago. All distressed properties — which includes REOs, short sales, and others — made up 42 percent of June’s pending sales. That’s down from 49.5 percent a […]