Here’s this week’s chart, showing a continuation of the trend of segmentation in the market.
(click the chart to enlarge it; use browser's back button to return)
Some ZIPs are way beyond “recovered” into strong seller’s market. Bank-owned properties in Surprise are flying off the shelves. Mid-priced homes in 85018, not so much.
The grey highlighted rows are the ZIPs that are generally a seller’s market, not a buyer’s market.
Of course all real estate is local. Even in Surprise there are market segments selling slowly. Short sales in ZIP 85379 are still selling like molasses in December: there are 9.6 month’s of supply of short sale homes on the market there.
And in ZIP 85018 there are only 2.57 months’ worth of supply of bank-owned homes on the market. So while 85018 is generally struggling and homes are selling slowly, bank-owned homes in that ZIP are moving pretty quickly, just like bank-owned homes Valleywide.