In the Feb/March time frame I was seriously looking at houses. Every weekend I would go out and look at anywhere between 5 and 10 houses. I did that for a couple of months. Most if not all of those homes went pending in March/April. I've been checking to see what they closed at compared to what they were listed at. But they are just not showing up. Is anything over $400k closing these days? I want to say none of them closed but one or two have. The vast majority seem to be stuck in escrow hell. I wonder what the rate increases will do to all those pending sales.
It's certainly been an interesting and frustrating spring. I'm hoping summer will bring better pickings. So far the new listings are still picking up. This was another really good week in the tracts I watch. Quite a few new listings appeared. Several of them had prices that looked pretty good too. If I weren't taking off on a cruise on Sunday I might have gone and looked at a few of them.
My contacts in the biz still say the banks have boatloads of properties to unload and they still think they will release them soon. I've been hearing this for a couple of months now and I'm starting to think either my contacts are loopy or the banks are.