I’ve been saying since I started pulling this data 18 months ago that one day we’re going see a change in the trends, and that day will be an important day for our local real estate market. Unfortunately, that day isn’t today.
More of the same today, with the forecast for more of the same next month too. (I feel like a Phoenix weatherman!)
(click on any chart to see full-sized)
New Bank Owned Listings (new listings actually owned by the bank – think foreclosures and REOs.)
New Short Sale Listings (new listings, still owned by the ‘owner’, but needing the bank to take a short payoff because the home is worth less than the mortgage balance.)
New Bank Owned + Short Sale Listings (a combined look at the above charts – these are the new listings where the bank is going to take a loss on the property, and the best reflection of my former Distressed Listings chart.)
New Vacant Listings (new listings which are vacant homes. While not all vacant listings are distressed listings, I am including them because they represent a very large percentage of the overall market, and therefore provide some measurement of Distressed.)
I’m including Single Family Detached homes listed for sale in Maricopa County via the Arizona Regional Multiple Listing Service.
Update 7/12 - Here is a link to similar charts for Distressed Sales.
Questions, comments? Please let us know!
Your getting tired of the ‘same old, same old’ Realtor,