Woohoo! Only 52% of homes sold in metro Phoenix in January were foreclosures. Things were so bad last year that 52% is a big improvement.
In January, 52.1 percent of the houses and condos that resold had been foreclosed on in the prior 12 months, virtually the same as 52.2 percent in December and November but down from 65.9 percent in January 2009. Such foreclosure resales hit a high of 66.2 percent of all homes resold last March.
{ 2 comments… read them below or add one }
azrob 03.06.10 at 10:21 pm
20% of sales were short sales this year. I am not sure increasing short sales and decreasing foreclosed sales is really a market improvement, either way, distressed inventory is still what is selling.
John Wake 03.06.10 at 11:47 pm
azrob, Good point. Some foreclosures could be moving up stream, so to speak, with the increased number of short sales.