Foreclosure inventory on the rise.

From the Wall Street Journal

By JAMES R. HAGERTY
The supply of foreclosed homes that banks need to sell is rising again, signaling further downward pressure on home prices in some parts of the U.S.

Mortgage analysts at Barclays Capital in New York estimated that banks and mortgage investors held a total of 645,800 foreclosed homes in January, up 4.6% from 617,286 a month earlier.

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http://online.wsj.com/article/SB10001424052748703523204575129861685086570.html?mod=djemRealEstate_h

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CA Real Estate Prices Rising.

From the Wall Street Journal.
By CARI TUNA
The California housing market is showing more signs of stabilization—at least for now—as sales of bank-owned and bargain-basement homes in inland areas partially give way to sales of costlier homes toward the coast, according to a new report.

California's median home price rose 11.2% in February from February 2009, although home sales in the state slipped for the second consecutive month compared with a year earlier, according to a report released Thursday by MDA DataQuick, a La Jolla, Calif., housing-data provider.

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http://online.wsj.com/article/SB10001424052748704207504575130020202083044.html?mod=djemRealEstate_h

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