November, 2010

 

Active Listings: 39,640; Equity Sellers, 50%; Short Sales, 30%; REO, 20%

AWC/Pending: 16,052; Equity Sellers, 33%; Short Sales, 52%; REO, 25%

Closed Sales, 10/8-11/8/2010: 6,935, a decline of 17% year-aver-year.

Equity sales, 36%; Short Sales, 21.5%, vs a high of 29% several months ago; REO, 42.5%

42.5% of closed transactions were CASH; 28% CONV.; 24.5% FHA; 3.7% VA

Closed sales 10/8-11/8/2009: 8,320; Equity Sellers, 29%; Short Sales, 17.4% REO, 44.5%

2010 Sales YTO (111-11/31) 75,434; Equity Sales, 33%; Short Sales, 26.6%; REO, 40.3%

2009 Sales (l/l-11/3112009 76,983; Equity Sales, 29%; Short Sales, 13%; REO, 58%

Note: Through first quarter 2010, closed sales were 20% ahead of first quarter 2009; through third quarter 2010 sales are 1l0W 1,500 less than third quarter 2009. Sales rate has slowed.

RAW numbers: closed Short Sales have more than doubled (20,044, 2010) year-over-year; REO sales YTD are 15,000 less than 2009;

New Listings, 8/1-10/31/2010: 33,919 vs 24, 997, same period 2009, an increase of 13.6%.

Market Trends:

I) # of Short Sales as a % of "solds" has declined from a high of 29% to a current level of 22%. REO active listings and REO pendings and sales (43%) are on the rise.

II) # of Trustees sales in the third quarter of 2010 was the highest ever at 15,209-an

average of about 250 per day. The ratio of Trustees Sale Notice of Default to foreclosures is approximately 70%

III) Listing Success Rate: < l00K, 61 %; 100-200K, 52%; 200-400K, 53%; 400-800K, 40%; 800K +, 20%. Blended average, approx. 55%; lowest ever 20.5, 1/08.

IV) Median Sold price as of 10/31 has declined 6.2% year-over year; $$$ sales volume

has declined 21% year-aver-year, a combination of fewer sales and lower sales prices.

V) CONDO prices have declined 13.5% in the past six months, 27% annualized%

VI) Phoenix record for living in his home longest without making a mortgage payment, Darrell Blomberg, 34 months and still counting!!!