I knew that was too good to last! After a 2-month decline in the rate of new bank-owned listings hitting the market, we showed a pronounced upward spike in June.
I'm not sure what this means, other than we're not out of the woods yet. The silver lining, though, is that as long as our brisk pace of sales keeps up, we're treading water rather than sinking under the weight of these new bank-involved listings.
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 treading water with everyone else Realtor,