My Realtor friend, Jay Thompson, has a great post breaking down the metro Phoenix real estate market into bank-owned (foreclosed), short-sale (pre-foreclosure) and private-sale (normal).
The bank-owned market is currently tighter than the bark on a tree, only 1.5 months supply according to Jay’s chart.
The other two markets are not tight by any stretch.
Nevertheless, with such a tight supply of bank-owned properties, we will likely see the end to the free fall in home prices in metro Phoenix, Arizona. However, that doesn’t mean the median price for non-bank-owned homes won’t continue to fall.
May 2, 2009 by Realtor John Wake
If you enjoyed this article, please consider sharing it!
John Wake
Born in Phoenix, trained as an economist and now a licensed Realtor, John uses hard data from the real estate market to help his clients -- buyers and sellers of residential real estate -- uncover their best choices for finding the right home or finding a buyer for their current home.
Recent Videos
McCormick Ranch Home on the Park - For Sale
Arizona Mortgage Market Update
Quick Look at Desert Ridge, Arizona
Weather report from Scottsdale Arizona
Thompson Peak Park in Grayhawk, Scottsdale AZ
Ultimate Phoenix Shadow Inventory Video
Arizona Shadow Inventory = 16 months (kinda)
Arizona Shadow Inventory of Foreclosures
Phoenix home sales HUGE
Phoenix Shadow Inventory of Homes
56 queries. 0.779 seconds.