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Marciopa Arizona Homes for Sale - Market Update 15FEB
The downward spiral in active Maricopa Arizona subdivision homes for sale continues and is now threatening to fall below 200 homes. Quite a drop considering there were over 650 homes available at this time last year. A staedy flow of seasonal buyers coupled with the continued slow release of foreclosed homes accounts for most of this trend. It is possible that we could see more foreclosures entering the marketplace now that the state AG litigation with the major lenders has reached a conclusion. However, although this may affect the current backlog (shadow) inventory, the prinicipal recustions proposed by the settlement may slow down future foreclosures as the lenders try and figure out a way to implement this (don't hold your breath!). Investor "flips" are dominating the marketplace and, as a result of highly competitive bidding at the trustee sales, values are rising.
ACTIVE LISTINGS: 207, down from 219
ACTIVE SHORT SALES: 35, down from 43
FORECLOSURES: 19, down from 21
AWC (short sales with offers): 201, up from 196
PENDING: 273, up from 255 HUGE increase! The highest number seen since SEPT 2011. After a month of recovering from "sticker shock", buyers are out in full force and this number ... more

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