The Big Bear Market rebounded nicely in June from a dismal May closing month.  Unit sales appear to be stable and are expected to remain at about 75 units for the year.  July through September tend to support higher than average units sales.  We may see as many as 100 closings in any of those three months.  With 132 units currently pending I expect about 70 closed sales in July.

Inventory increased another 100 units in the past thirty days.  In the past 60 days the available residential inventory has risen from approximately 631 units to 888 as of this morning.  This is probably good for the market.  Many buyer’s have been complaining about the quality and condition of the homes they have been viewing relative to the price for the past few months.  Prices will likely remain soft but more sales will likely close because buyer’s are happier with a broader choice of inventory.

I would love to hear your thoughts.  Call me at (909) 584-2202 if we can be of assistance to you!