The June market update is positive with slightly better #'s than last month. The number of available listings is down slightly with sales and pendings on the rise. Bank owned properties are still rising though and they represent 62% of the sales last month.

All numbers are as of today 7-2-2008 and are from the Bakersfield Multiple Listing Service under the category of single family residential (SFR).

4,167 homes active on the market

1,120 of those are bank owned properties

1,236 are "short sales" or pre-foreclosure sales

1,435 are in escrow or pending sale (that is excluding anything that went pending prior to 4-1-2007)

894 of those are bank owned properties

184 are "short sales"

and there were 540 homes sold or closed escrow in June 2008 with

334 of those being bank owned and

25 being short sales

Please feel free to call or email with any questions or for more detailed information. Have a great holiday weekend!