Another month with very little change. Good news if you’re a buyer without a house to sell, especially if you can take advantage of the current interest rates. Also good news if you consider we’re now one month closer to whenever the eventual recovery might occur. Bad news if you were looking for a positive trend this month…
(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. The bank will need to approve the sale.)
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 am including Single Family Detached Homes listed for sale in Maricopa County via the Arizona Regional Multiple Listing Service. These numbers are believed accurate but not guaranteed.
Questions, comments? Give us a call/email anytime!
update: click here to see Distressed Sales Charts for July 2010.
Your been saying ‘wait till next year’ for so long he feels like a Cubs fan Realtor,