Phoenix Area Market Trends through Feb. 2011

Phoenix 1955 from So. Mountain.  

The lastest market stats are out reporting real estate sales activity through February, 2011.  Matt Canady at First American Title put this worksheet together:

Bank owned and short sales continue to be the trend - the ARMLS STAT report makes this trend loud and clear:

 

Taken from AZ Regional MLS Feb. 2011 STAT report

Photo of 1955 Phoenix from Flickr courtesy of jczart.




Foreclosure halt creates another system clog

Seems as if this just won't go away. The recent foreclosure halt announced by Bank of America is - now in all 50 states, well, guess what.....?

....Muddying the waters. Suprise!

Hold on, gather your patience. The fat lady hasn't even thought about warming up those vocal chords.  Because 1 in 3 homes are distressed sales.

Read more about it here-
REALTOR® Magazine-Daily News-Foreclosure Halt Creates Problems for Buyers