Maricopa Arizona Homes for Sale – Weekly Market Update 20JUN
For the first tome since SEP 2010, inventory actually moved upward. It was only a small move so not too much should be read into it but we very well could have reached to the bottom as far as inventory levels go. As would be expected, the other number also fall into line with this trend.
ACTIVE: 287, UP from 279. For right now, it would appear that this number is being driven by a slight softening in buyer activity as there has not appeared to be an increase in the number of new foreclosure listings released by the lenders. New short sales have also remained realtively steady. As I mentioned previously, it is too early to draw any conclusions but this is a signifigant change.
ACTIVE SHORT SALES: 103, up from 101. Not much to read into this number yet. Though the decline in the number of short sales has slowed down, the increase is nominal and would be expected due to the overall rise in inventory.
ACTIVE LENDER OWNED: 53, up from 45. Here too, we don’t want to read too much into this number until we see a trend establishing. Stay tuned!!
AWC (short sales with offers): 215, stable from 218.
PENDING: 375, down from 388. Though this is not much of a decline, it is the lowest number of pending transactions since the first week of May. Since this is an indicator of future closed sales, I will be watching this number VERY closely.
CLOSED: 51, up from 46. Another strong number. We shall see if it continues to hold up.
SUMMARY: The trends suggest that the expected “end of school year lull” may have come a little later this year. One factor might be that the temperatures have only recently hit triple digits and the “acclimation period” might also be a contributing factor. I have also noticed that the homes investors have purchased at auction are not being turned around for a “flip” as quickly as in the past. One week does not establish a trend so check back over the next few weeks!!
View the full spreadsheet Monthly home data
