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Foreclosurewise. . .2011 Has Really Been A Good Year Compared to 2010 In Maricopa County

Nov 29

filed under: Foreclosures & Short Sales, Market Conditions, Real Estate

Everything is looking better and better each month in Maricopa County. As we close up 2011, I think we can look forward to a even better 2012! Here is the Foreclosure Data from the Cromfort Report, a trusted resource for real estate statistics in Maricopa County.

  1. Active Notices of default for residential properties as of the end of October ’11 were 21,903 units. Down from last month of 22,301. This is the 11th month in a row that we have seen decreases in the number of Residential Active Notices. Down from the all time high of December ’09 of 47,606
  2. Foreclosures were at there all time high in March 2010 at 5,451. Residential foreclosures were 2233 last month. This was down 454 units from September.
  3. The residential REO properties are sitting at 10,451 vs. last month of 13,556. Down 3015 units from last month! October of 2010 there were 20,821 REO properties, down 50%! Listed properties are approximately 2,713 units and pending are 3195. That tells us that there is approximately 4,544 properties that are foreclosed but not yet on the market.

Click here to see the graph of foreclosure data

As long as the notices for default stay on this path this is good news. Crystal ball, no I don’t have one of those, but I like what I’m seeing with these numbers and so should you.

Written by Howard Harris