Closed Real Estate Sales- January 2013 and 2012

February 11, 2013
With the large increase in the number of properties that entered escrow in the past several months, I thought perhaps the number of closed residential properties would also have increased in January. As you an note from the numbers, that has really not yet been the case.The numbers are from the closed residential transactions reported though the CRMLS in the month of January.
Banning/Beaumont.........2013/104.......2012/96.....................Pendings/197
Bloomington..................2013/22.........2012/16.....................Pendings/44
Colton...........................2013/33.........2012/31.....................Pendings/66
Fontana.........................2013/188.......2012/196...................Pendings/459
Grand Terrace...............2013/10.........2012/14.....................Pendings/23
Highland........................2013/54.........2012/45.....................Pendings109
Loma Linda...................2013/14.........2012/16.....................Pendings/31
Mentone........................2013/6...........2012/7.......................Pendings/15
Moreno Valley...............2013/162.......2012/195..................Pendings/376
Redlands........................2013/62.........2012/49....................Pendings/90
Rialto.............................2013/63.........2012/97....................Pendings/149
Riverside........................2013/287.......2012/329..................Pendings/574
San Bernardino..............2013/135.......2012/189..................Pendings/354
Yucaipa/Calimesa..........2013/54.........2012/54....................Pendings/126
These numbers do not reflect the properties reported in the back-up category as usually those do have contingencies that create longer escrow times. Also, escrow lengths have become forty-five to sixty days. Lenders have been swamped with re-fi s which slow down loan processing.