Tuesday, June 24, 2008

Banks’ influence on the market

I pulled together a chart to summarize how many Active Listings out there are owned by, or need approval by, a bank. The numbers may be a surprise, but the distribution isn't; the outlying suburbs (which were investor-driven in 2005) have a significantly higher percentage.

Lender Owned SFR listings




































































CityBank OwnedTotal Active ListingsPct
Scottsdale1494,0613.7%
Tempe225114.3%
Peoria1741,62610.7%
Surprise2251,53614.7%
Phoenix1,81710,36117.5%
Buckeye1991,11217.9%
Maricopa (city)15080718.6%
    
Maricopa (county)4,63037,25712.4%
    

Lender Involved SFR listings (short sales included here)




































































CityBank InvolvedTotal Active ListingsPct
Scottsdale2974,0617.3%
Tempe5551110.8%
Peoria3881,62623.9%
Phoenix2,93310,36128.3%
Buckeye3631,11232.6%
Surprise5191,53633.8%
Maricopa (city)36380745.0%
    
Maricopa (county)8,80037,25723.6%
    

Wow – what a difference! In Scottsdale, you'll find a foreclosure in 1 out of 27 Active Listings. In Maricopa (city), you'll find a bank's involvement in 45% of the Active Listings!

Your wishing he had done this post a few months ago so he could compare trends Realtor,

Chris Butterworth

[tags] bank owned, short sale, market statistics [/tags]