November 2008 just ended, so here we are with a whole new month of reporting. Before I begin, let me remind you of a post I made a short while ago. The post was about a change that the Arizona Regional Multiple Listing Service made to its internal reporting. The change revolves around how short sales are reported in the MLS. Click here for that information. Let's hope the change worked and the numbers remain consistent from month to month.
The chart is read in this manner: There were 54,538 active listings in the MLS on December 1. That number rose by 787 from November 1. 18,483 of those listings were foreclosure type properties, or 33.9% of all listings. 47,291 listings are in Maricopa County, 5,102 are in Pinal County, in 2,145 were in the other counties in Arizona -- and some in other states (MLS allows realtors to post listings from across the country).
Phoenix area listings rose for the third consecutive month.The total gain in active listings from September of 2008 until now has been 2,837.The last time the number of listings was this high was back on May 1, 2008. It appears that the summer buying cycle drove the listings down for a few months -- and now they are back up again.
The total number of foreclosure type sales grew again. That is no surprise, however, because they have steadily risen over the last 18 to 20 months (possibly more). As you can see, 33.9% of all listings are foreclosure type properties.
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