I've been pulling this chart for a few months now, and it's nice to finally see a 2-month in a row decline in the number of new 'distressed listings'.
I do have to wonder how much of this decline is directly related to some of the banks' moratorium on new foreclosures.. Is this trend for real, or are we seeing an artificially suppressed number of listings while a tidal wave of soon-to-be-listed homes sits in waiting?
The first chart below shows the total number of new listings for distressed properties by month. The second chart breaks the number down to a listings-by-day number, which better accounts for the varying number of days in each month.
(click on each chart to see a full-screen view)
I’m pulling all new distressed listings from the MLS, regardless of their current status (active, sold, etc.) I’m looking at Single Family Detached homes in Maricopa County, with some sort of bank involvement - Short Sales, Pre Foreclosures, Auctions, and Lender-Owned properties.
All data pulled from MLS and is assumed accurate but not guaranteed.
Your seeing but not yet believing Realtor,