Up or Down?
The DOW is up, job numbers for March came in without further decline, but foreclosures in Maricopa county are still in full swing. For a five day period, from March 29 to April 2, there were 3,077 foreclosures scheduled to take place. That is over 600 PER DAY. As of April 2, our MLS has 34,384 Active Listings. Of these 4,936 are Bank Owned (14%). Comparatively, 9,129 are Short Sales (foreclosures in the making) which is 26.5% of the current active listings. If almost HALF (40.5%) of our market is already a combination of Bank Owned homes and Short Sales are we headed towards a recovery?