Phoenix Resale Transactions Jump in February

Foreclosure activity makes up bulk of resale transactions in greater Phoenix area

MESA, Ariz. - February 2009 resale activity experienced an upsurge of 8,510 resale homes recorded sold, while there were 6,960 recorded sales in January and 4,675 sales for a year ago. However, foreclosure activity in February 2009 represented 51 percent (4,295 transactions), while there were 4,215 traditional market transactions.

Foreclosure transactions represent home owners losing their property to successful individual bidders or the lender of record. For February 2008, there were 1,985 sales in foreclosure or 42 percent on the month’s recordings.

For February 2009, foreclosure activity differed throughout the Valley such as 48 percent in Surprise, 51 percent in Glendale and 40 percent in Scottsdale. Even in response to hiatus and mortgage modification programs, foreclosure activity did not slow.

Phoenix Real Estate

 

3 Comments on Phoenix Resale Transactions Jump in February

MAR
13
1 Featured Post

Nice post Bill.  I love reading home sales statistics in other markets (relative to me (Cleveland)).  I keep wondering at what point we will look at these numbers and say THAT was the bottom.  Who knows, maybe I'll be saying that in 20 years from now (lol. j/k).

8:52pm • #1
126,152 Points Outside Blog

Hey, great post. Thanks for the information about your area.

8:59pm • #2
MAR
19

*O*M*G*!  Was that actually OKAY news about our market??!?!  I can't believe it!  Thankfully, I am sitting down.  ;)  Thanks for sharing the stats!

Sharon Kotula
Argent Decor
Phoenix Vacation Home Furnishing and Home Staging
www.ArgentDecor.com

12:57am • #3

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Bill Austin

Scottsdale, AZ

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