Foreclosures Down 21% in November
This should come as no surpise to most of us. I reported in my weekly Maricopa Arizona housing market update that inventory levels were the lowest sine JUL 2010 and that I felt it was mostly due to the “robo sign” moratorium. However, I AM a concerned that this article predicts that there will be 3 – 4 million homes in delinquency or awaiting foreclosure that will be waiting to hit the market in the first quarter of 2011.
It will be very interesting to see if the lenders flood the market during this period or if they attempt to somehow regulate the release to keep home vaules higher. Either way, it is going to be a VERY interesting year in 2011.
