Maricopa Arizona Weekly Housing Market Report – 21FEB
Each week I post “the numbers” of activity in subdivision homes in Maricopa Arizona. Here is the latest information.
ACTIVE: 600, down from 651. This is easily the largest weekly drop in Maricopa Arizona homes that I have seen in recent memory. The combination of high buyer activity and the fact that lenders have still not begun to release their shadow inventory continues to put downward pressure of the inventory of active listings. The rest of the numbers give more insight into this.
SHORT SALES: 261, down from 275. This number has continued to slide since before the 2010 Holiday season. Even thought eh 30,60,90 day delinquent list is extensive, homeowners are still holding back on listing their homes for short sales. In addition, more buyers are looking to this alternative due to decreased inventory and availability of homes within their search criteria.
LENDER OWNED: 117, down from 135. As mentioned before, this underlines the fact that new foreclosure listings are not keeping pace with buyer demand.
AWC: 207, flat. The fact that this number has remained flat even though the number of active short sale listings has declined seems to indicate that more of these listings are being lost to foreclosure. However, this is not an exact science as some realtors will post a property as Pending rather than AWC. Regardless, I am certain that more short sales are being added to the lenders’ foreclosure roles every day.
PENDING: 341, up from 307. This is the largest amount of pending sales I have seen since I began tracking these numbers back in April of 2010. It would appear that the seasonal buying activity is now in full swing. I would expect this to continue for at least another two months.
CLOSED: 45, up from 36. Another solid week and I expect this number to increase over the next couple of months.
AUCTION: 25. The number of homes offered at the trustee sale has remained steady. I have also noticed an increase in the number of quality homes and trend towards more reasonable opning bids.
SUMMARY: I’m sounding like a broken record but I continue to be puzzled by the fact that lenders are still not releasing their backlog of inventory. Until this happens, inventory will continue to decrease and pricing will stabilize, if not increase. “Highest and best” and multiple bids will rule the day in the Maricopa Arizona homes market!
View the entire speadsheet: Monthly home data
