Report: High Sold-to-List Price Ratio Confirms Bidding War Activity 05/21/2013

Oh yes!

San Diego At Home

Last year, some analysts were speculating the large supply of REOs and shadow inventory would keep the market depressed, but instead, the market is dealing with a lack of inventory available for sale, ProTeck Valuation Services noted in its May Home Value Forecast (HVF).

“[I]n reality the shortage of housing inventory has led buyers to bid more competitively against one another leading to significant home price increases and tighter housing conditions,” said Tom O’Grady, CEO of Pro Teck. “Aside from anecdotal stories, Home Value Forecast shows that one of the most reliable leading indicators to support this theory is the Sold-To- List Price ratio.”

According to the report authors, the sold-to-list price ratio tends to land somewhere in the range of 92 and 98 percent, but in high demand markets, the ratio can exceed 100 percent.

For example, in the San Francisco Bay area, nearly all ZIP codes showed sold-to-list-price-ratios close to or above…

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