The ratio of distressed properties to all homes for sale in Huntington Beach is creeping up. 
Nearly a third of homes for sale in the city are foreclosures and short sales, a Realtor’s study shows.
Of 636 active listings, 195 — or 30.7% – are distressed, according to Steve Thomas of Altera Real Estate, whose Orange County Housing Report looks at sales activity by city.
That compares to 28.3% on Oct. 30 and 27.4% earlier that month.
It would take 6.42 months to sell all the homes now on the market in Huntington Beach, the study shows, vs. 9.35 months a year ago, vs. 5.93 months two years ago.
In late October, that number was at 5.91 months.
The average active list price is $917,000. That’s up from $902,000 on Oct. 30.
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- The Surf City “Zippys,” 3Q
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- Which Surf City house has more curb appeal?
- A down side to Freddie & Fannie’s holiday gift?
- Measuring demand for real estate in Surf City
People brought homes that they couldn’t afford beyond the ARM\teaser rate reset. You didn’t need to be a rocket scientist to know this upfront.
Hmm, no mention of the holiday foreclosure moraturiums holding back supply.
But I am sure if we don’t pay attention to it it must not matter.
Not surprising. Those that couldn’t afford the mortgage to begin with also couldn’t afford to take care of the property too. Most of HB housing is from the 1960-1970’s and requires ongoing maintenance… I should know, my HB home was built in 1963 and I’m always working on it… but I love it…