For a few months now, there has been talk that the banks have been holding off putting foreclosures(REOs) on the market and that there will be a flood of them “coming soon”. I’ve been monitoring some Realtor message boards and agents around the country have yet to see indication that the banks are (or soon are) releasing the flood. Some think the banks won’t release a ton of them at once which will just drive down prices yet again which wouldn’t be a good business decision for the banks. Maybe they are waiting to see if inventory levels decrease before releasing them?
If you monitor our New Listings report, you’ll see that we do have REOs (the ones with the city name in blue) coming on the market but they’ve been pretty constant.
Not sure what the answer is….