The surge of short sales on the MLS is stunning. In Southern California over half of all MLS housing inventory is listed as a short sale. In fact, if we combine short sales and foreclosures over 60 percent of MLS inventory is distressed. 2012 is looking to be the year of the short sale and the quality of short sales and pricing shows that banks are starting to move shadow inventory quicker. We also provide an analysis of housing costs that many first time buyers ignore:

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