More Phoenix area JulyReal estate Statistics
Hi,
I typically try to get market statistics out as early in the month as possible. I gather the info myself from the MLS system and provide data that I think you will find helpful. Inevitably, as soon as I do that I receive other data from title companies and other sources that also shed some light on market conditions. Below is a chart put together by a rep at First American Title. The stat that I find most interesting is the percent of sales that are REO's. This percentage has been decreasing for a few months. That doesn't mean that the foreclosures are decreasing necessarily (there will be plenty more), but I think it shows that traditional sellers who need to sell are being realistic regarding market conditions. Many buyers are also willing to pay the "premium" for a well kept home as well. I'll provide any other statistics that come my way that prove to be insightful. I also expect that we will see the future percentage of short sales increase as the banks are finally figuing out that it is best to work on these.
Adam Tarr PC, Associate Broker
ABR,CDPE,ePro,RSPS,CNE
Citywide Real Estate and Investments
Phoenix, AZ
480-236-7374
adam@WeAreAZRealEstate.com