You will notice that the Orange County graph shows the most stable compared to neighboring counties.
Traditional Sales- Standard Sale with the homeowners as sellers.
Short Sales- List price is less than the loan amount and costs associated to sell the home in this current market. Homeowners are the sellers but the banks holding the note (lien holders) must approve the sale.
REO Sales- Bank owned property (Real Estate Owned)
Auction Sales- Homes sold at the county courthouse.
Graphs from Corelogic
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