We have seen a change in the past 2 years when looking at our deed recordings. Traditionally the highest number of recordings occur during the late summer and early fall months, but in the past 2 years the month of December has had the highest number of recordings.
We also have the lowest inventory of residential homes (569 units as of this morning) that we have had in over 5 years.
Currently in the Big Bear area we have 112 pending sales (escrows) and 39 active contingent short sales that are awaiting bank approval.
I believe prices will continue to soften for the next 12 months, but at a slower rate than what we have seen in the past 3 years.
