The inventory of Maricopa AZ subdivision homes for sale continues to fluctuate between 130 – 145 homes, the lowest levels in years. Although buyer activity remains strong, there has been a weakening in Pending sales as it has held relatively steady for the last two weeks at a number not seen since the first week of February. The next few weeks will be very telling so be sure to check back.
ACTIVE: 143, up from 136 Although this represents a 5% increase over last week, we have seen this happen before over the past month only to return to the “bottom”. I’ll be keeping a very close eye on this number. The amount of homes entering the market on a daily basis appears to be fairly steady and it is still very difficult to find homes for our buyers regardless of style of home or price range.
ACTIVE SHORT SALES: 21, up from 15. This increase accounts for most of the overall increase in inventory but once again we have seen this number flucuate over the past month. That being said, with schools letting out in the next few weeks, I am predicting that a number of distressed homeowners will choose this time to list their homes as short sales.
LENDER OWNED: 13, stable from 13 It still remains a mystery why lenders continue to hold back their “shadow” inventory and continue to postpone homes scheduled to be sold at Trustee Sale. Rumors have it that they will begin a release during the summer months, when nationwide home buying usually undergoes a seasonal increase. The number of vacant homes that have been foreclosed on but not yet listed is apparent in Maricopa and it is just a metter of time before they enter the marketplace. In addition, delinquent mortgages (30,60,90 days late) are also very high.
HUD homes: 3, down from 7 After a brief burst of inventoy of these homes, they have returned to their low number.
AWC (short sales with offers): 219, down from 225 That fact that not as many offers were accepted on short sales is the primary reason for the decline in overall inventory. Although this might suggest that buyers are now turning their attention to other types of sales, this is not supported by the decrease in Pending sales. I take it as an indication that the market is weakening but one week’s data is too small a sample to be sure.
PENDING: 271, up from 268 Although this number increased, it is the second week in a row of below average numbers.
CLOSED: 52, up from 49 Another strong number which was expected due to the high number of Pending sales from a couple of months ago.
ACTIVE RENTALS: Steady at 112 The inventory of rental homes has been rock solid since FEB.
HOMES RENTED: 28, up from 25 This number is always skewed a bit each month as many leases begin on the first of the month. That being said, there is still a strong and steady demand and inventory remains at around a 30 day supply. A great opportunity for investors if only there were more homes to purchase!
View the full spreadsheet Monthly home data
Contact Bill Wasowicz for all listings or to be listed for Maricopa AZ homes and real estate