Where's the Glut?

September 3, 2009

The media and many economists are still citing the "glut" of unsold houses as a reason for the continued instability on the housing market's recovery. There is also continued talk of the vast numbers of foreclosures that have yet to "hit the market".

Ask any potential buyer and you might have a different perspective. Not much to look at and if you find a property you like, there are often multiple buyers bidding for it.

These are the number of active listings as of September 1, 2009 versus September 1, 2oo8.

Banning/ Beaumont...........2009/501..........2008/792

Bloomington........................2009/60............2008/200

Colton...................................2009/124...........2008/349

Fontana................................2009/465...........2008/1707

Grand Terrace.....................2009/22.............2008/55

Highland..............................2009/170...........2008/339

Loma Linda.........................2009/60.............2008/91

Mentone..............................2009/22.............2008/54

Moreno Valley....................2009/531...........2008/1893

Redlands.............................2009/224...........2008/382

Rialto...................................2009/246...........2008/755

Riverside.............................2009/1056.........2008/2465

San Bernardino..................2009/787...........2008/1961

Yucaipa/Calimesa.............2009/218...........2008/423

Where's the glut?????