Here’s this week’s stats chart covering The Phoenix Agents’ territory. If you click the pic, it’ll open in a new window.
I don’t have a comment about the stats on the chart this week. Seems like a jumble of red and green without logic to me. Sometimes even a good Realtor temporarily says “I dunno.”
Anecdotal evidence from the trenches
I continue to see a steady stream of bargain-hunting buyers crawling out of the woodwork, cash or loan in hand and ready to scoop up a deal. I haven’t been this busy since the summer of 2005.
Multiple offers on REO bank owned properties continue to be the norm, especially in lower-end price ranges.
It seems to me that short sales in many middle-range prices are struggling to sell as buyers discover that REOs are a quicker purchase. On the other hand, I’ve heard from colleagues that the average short sale response time is about 8 weeks lately. That’s much improved from my personal experiences in 2008 when I waited 3 to 4 months for answers from the sellers’ lenders on short sales.
Check back next week to see if a pattern re-emerges in the Sunday Stats.