This week’s Phoenix real estate inventory update isn’t going to look substantially different than last week’s. Inventory of single-family homes in Maricopa County is up by about 300 homes to 39,485. Sales over the preceding 30 days are more or less flat at 1,995.
Looking at lender-owned and short-sale properties … there are 3,145 REOs listed in the Arizona Regional MLS; 359 sold over the past 30 days. There also are 3481 short sales in the system with 171 selling over the past 30 days.
The possibility of lenders freezing the foreclosure process for 30 days could help limit the number of REOs on the market but likely will do next-to-nothing to the short sales. In fact I would expect to see those numbers rise as sellers determine there’s not another viable option.
Any improvement has been anecdotal, where it’s the heavy foot traffic in new builds over the past weekend or readers asking about multiple showings and offers on homes up in Arrowhead Ranch. (I still know of some beautiful homes for sale there in the low $200s, and one below, for those interested.)
As always, click on any of the below markers for details on any particular city or town. And also as always, all information is provided by the Arizona Regional MLS and is deemed reliable but is not guaranteed.
[tags]Phoenix real estate, real estate absorption rate[/tags]