Total closed for November 2011 is 7,803. That was made up of 2,339 REO properties (30%) and 2269 Short sales (29%) and 3,195 normal closings (41%)
Pending (have contracts, waiting to close) is at 17,592. That is made up of 2859 REO properties (16%) and 11,155 Short sales(63%) and 3,582 normal (21%)
Active is 19,388. That is made up of 2,256 REO properties (12%) and 3,031 Short sales (16%) and 14,103 normal (73%)
We are closing more and more short sales every month and with the huge amount of Pending short sales that should be no surprise!
Normal closings have climbed to 41% of the market and make up 73% of the current actives. If this trend continues and the luxury market picks up, we could see housing prices begin to rise this spring. It will be a slow climb unless the available number of houses remain low at 19,388. Considering we had 55,000 homes for sale just one year ago, it's no wonder that the Phoenix market is one of the fastest recovering in the US! We are hoping that more properties will come onto the market after January so that those of you waiting to buy will have more choices!
If you want more information, please call or email us!
PLEASE NOTE OUR NEW EMAIL ADDRESSES:
