Many buyers are asking about the lack of inventory in the foreclosure arena today as compared to last year. Buyers are finding fewer foreclosure choices in the market to choose from. So what’s causing the shift?
A couple of factors are contributing to the lower inventory levels. First, the market activity in single family homes is up 20% Y-T-D over last year in Okaloosa County. Secondly, foreclosure (lis pendens) filings are way down. Through March, there have been 192 foreclosure filings this year as compared with 573 for the same period in 2010.
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