Want to see what bad news looks like?
I’ve long maintained this is the key number to watch in terms of predicting our real estate recovery. Regardless of prices, unemployment, interest rates, or whatever else, when this number gets closer to zero we will be in a more “typical” market. (For those who want to see more detailed predictions or analysis, please sign up for our Free-Premium Viewpoint e-newsletter service.)
Earlier this year I was somewhat pleased with the downward trend we saw in the 2nd half of 2009. Today it’s apparent that wasn’t a long-term sustainable trend!
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Note: 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. Numbers are believed to be accurate but not guaranteed.
Your wishing we could all turn the collective page Realtor,