Maricopa County Phoenix Arizona - Market Trends May 12th 2012
ACTIVE (Available For Sale) LISTING CHART AS OF MAY 12, 2012
There are some major changes in the Phoenix Metropolitan Real Estate market form May 2011 to May 12th 2012. Check out these numbers - they are significant particularly in the decrease of active short sales and active foreclosure listings. These numbers should give anybody that has any doubt as to whether we've not only hit bottom. We hit bottom last October and the prices of homes have been steadily going up since that time. The Phoenix real estate market is topping the leader board in the U.S.A. for market improvement. We were one of the first states to fall down and we're one of the first to be moving towards recovery.
HUD Homes (Brown)
May 2011 = 922 - May 2012 = 137
HUD Listings Down 85%
REO Homes (Red)
May 2011 = 5952 - May 2012 = 828
REO Listings Down 86%
Short Sales (Blue)
May 2011 =9447 - May 2012 = 924
Short Sales Listings Down 90%
May 2011 = 14,981 - May 2012 = 8350
Normal Sale Listings Down 44%
AWC - Active with Contingencies (under contract ) LISTING CHART MAY 12, 2012
Here is where it gets quite confusing to the general public - What is the difference between Active and Active with Contingencies (AWC)?
- Active means that the home is available for sale and has no accepted offer or backup offers.
- Active with Contingency (AWC) means there is an accepted offer but there are contingencies. They may or may not be accepting back up offers.
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