The following 2 charts really show that every local real estate market is different. While Santa Maria has seen a much lower number of new REO listings throughout 2009, SLO County’s new REO listings have not really declined in 2009. I don’t know why there were such a big number of REO listings in SLO County in October 2008. I did a check to see where we are at this month and we’re not going to have that jump in October 2009 unless a BUNCH of new REO listings come on the market in the next couple days.
(click chart to enlarge)