Inventory of Maricopa Arizona subdivision homes for sale moved up ever so slightly this week. It is interesting to note that in spite of this small increase, available short sales and foreclosures edged downward which continues to show a movement towards investor owned resales along with a sprinkling of traditional sales. Most pricing remains above appraised values making it very difficult for financed buyers unless they are able to contribute additional cash at close of escrow. Cash is still king!
On another note, Maricopa AZ homes available at the daily Trustee Sale have slowed down quite a bit. The “pickings” are slim and those that are available are selling at a HUGE premium.With the summer season right around the corner, it will be interesting to see if many investors are being a bit too aggressive and are left “holding the bag” if, in fact, inventory increases as expected in the coming months.
ACTIVE: 147, up from 144
ACTIVE SHORT SALES: 15, down from 18 Buyers continue to turn to the few available short sales out there. As a result, prices are being bid up aggressively and this is no longer a place to turn for great deals.
LENDER OWNED: 10, down from 13 “Shadow” inventory, where are you??? Rumor has it that lenders will begin a release soon. Will they?
HUD homes: Primary occupant only at this time. Due to under value pricing, they are going off the market with multiple bids as soon as the 10 day hold period is over.
AWC (short sales with offers): 222, up from 220
PENDING: 282, down from 291 Although not a big change, this is the lowest number since mid-FEB.
CLOSED: 48, up from 44
ACTIVE RENTALS: 112, steady from 113 Rental inventory remains at around a 45 day supply.
RENTALS CLOSED: 20, stable from 22
Read the full report here Monthly home data