Why is the Bakersfield Real Estate Market?

If you compare the total number of active listings in June 2005 to June 2007 the result is staggering

Active Listings Have Increased 563%!

Real Estate Appraiser Matt Anzaldo's Opinion:

"The reason the market went up in 2004 and 2005 is because property investors bought thousands of homes and buyers were bidding over the listing prices. In 2006 and 2007 the market went down because property investors stopped buying and buyers were bidding under listing prices. So what changed? The amount of active listings have increased changing the market from a seller's market to a buyer's market in 2007."