Foreclosure inventory are basically at very very low levels in 2021-2024. Due to our still reduced inventory as we begin 2024, what we experience today are higher prices into 2024. When a home hits the market there are not the pressures to the buyer that we experienced in 2021 and 2022. We are now in a more normalized market since the increase of mortgage interest rates which have hit a high of just over 7%, but have settled in the 6% range as we move into 2024.
Short Sale inventories are basically at zero levels in 2021-2023 and into 2024.
This information is brought to you by Steve Ehlers from Premiere Plus Realty Co.
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