Distressed housing inventory down 46% since December

July 1st, 2009, 3:00 am · 6 Comments · posted by Mathew Padilla

Steve Thomas at Altera Real Estate in Aliso Viejo reports that the number of O.C. distressed properties (homes listed by agents as foreclosures or short sales) was 2,919 last week, down 143 vs. two weeks earlier or a 4.7% decline.

Since Dec. 26, the number of distressed homes on the market has dropped 46% while the non-distressed supply is 22% lower.

As a percent of all listed homes for sale, distressed properties were 31.8% of the market last week vs. 32.9% two weeks earlier. For a look at housing demand, read: Demand for O.C. homes hits plateau.

Here’s a look at various slices of the O.C. market as of last Thursday: total inventory listings; distressed property listings; and the share distressed listings have of total inventory supply on a percentage basis in each niche …

Slice	All inventory	Distressed	Share
By price …
• O.C. $0-$250k	1,488	846	57%
• O.C. $250-$500k	2,274	1,281	56%
• O.C. $500k-$750k	1,669	461	28%
• O.C. $750k-$1m	1,093	182	17%
• O.C. $1m-$1.5m	1,012	93	9%
• O.C. $1.5m-$2m	581	33	6%
• O.C. $2m-4m	769	23	3%
• O.C. $4m+	398	4	1%
All O.C.	9,188	2,919	32%
• Attached	3,519	1,448	41%
• Detached	5,656	1,461	26%
County high share
• Santa Ana	595	442	74%
• Foothill Ranch	32	23	72%
• Garden Grove	220	146	66%
• Anaheim	402	262	65%
• Buena Park	102	65	64%
• Rancho Santa Marg.	111	70	63%
• La Habra	105	64	61%
County low share …
• Seal Beach	296	3	1%
• Laguna Woods	432	16	4%
• Corona Del Mar	228	11	5%
• Laguna Beach	414	22	5%
• Newport Coast	200	14	7%