Maricopa Arizona Homes for Sale – Market Update 19DEC
Inventory declined slightly this past week and remains at an all time low. Most of the other numbers stayed within the range of prior weeks although an increase in the number of Pending sales increased to levels not seen since early OCT. This is most likely due to seasonal buyers and I expect this number to continue it’s upward movement for the next few months. It is still very difficult to find homes for buyers and most that are available would appear to have some appraisal issues. It’s a matter of lack of supply and increased demand and will affect a financed buyer’s ability to obtain a home unless they are willing to contribute cash should the home not appraise.
ACTIVE: 232, down from 240
ACTIVE SHORT SALES: 54, up from 51 It appears that homeowners are still willing to list their homes as short sales even though Christmas is right around the corner. This is evidenced by quite a few new listings entering the marketplace.
LENDER OWNED: 29, down from 29 New foreclosures are still entering the market at a trickle. This is the lowest number of active listings since mid SEP and, given the Holiday moratorium imposed by many of the major lenders, I expect this number to decline further.
HUD: 2, down from 7 HUD homes, foreclosures with government backed loans (VA, FHA), are not being released in the quantities seen only a few months ago. Those that are entering the market are going under contract immediately after the 10 day “holding period”.
AWC (short sales with offers): 203, stable from 203
PENDING: 256, up from 242 See my notes at the top
CLOSED: 27, from 26
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