Last week on deadline I had a quick conversation with Mike Lyon, head of Lyon Real Estate, in which he talked about approximately 3,000 homes presently in escrow in El Dorado, Placer, Sacramento and Yolo counties.
He said that number, which they call in the trade pending sales, are at 2005 levels. That means sales volume is at a high not seen since the boom, he said.
And more than half those sales are bank repos.
Here is the press release his firm, TrendGraphix, put out today. It explains in more detail, in his words, what he was saying last week when I caught him for a moment.
A blog about the economy and the Sacramento-area real estate market.
April 21, 2008
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