Maricopa Arizona Housing Market Weekly Update – 10 JAN
Here is the latest update. I have limited my comments this week as most of the numbers have remained relatively flat.
ACTIVE: 796, last week 793
SHORT SALES: 351, last weel 349
LENDER OWNED: 175, down from 184. The number of lender owned homes continue to trend downward. As I have stated before, I expect to see this number stabilze and then begin to trend upward very soon as the lenders begin to release their invntory taht has swelled due to the recent moratoriums. I expected to see this happen on this report but it is only a matter of time.
AWC: 158, last week 156.
PENDING: 224, last week 221.
CLOSED: 31, last week 54. I won’t read too much into this drop until I see the numbers for the next few weeks as well as the monthly total. January’s closing tend to trend down a bit most likley due to the fact that most of these offers would have been written during the Holday season (between Thanksgiving and New Years). Not only is this time of year a little “sluggish” for buyers but lenders and title companies tend to slow the process down with extended time off.
AUCTION: 24, last weel 11. This is a new tracking number that I started last week. Once again, I won’t read too much into this number until I have a few more weeks of data. That being said, I expect this number to climb as the lenders begin to aggressively liquidate their swelled inventory.
All in all, last week does not give us a lot of information to draw any conclusions from. I’ll keep checking the numbers and we will see what the rest of the month has in store for us. Personally, we have seen a strong increase in the number of buyers. Not only have we experienced a large amount of calls on our few remaining short sales, but we also picked up four seriuops buyers in just the last two days. I still expect a “wild ride!
