Pending Foreclosures in the Valley

The real estate market has changed in the last year! And the change is moving in the right direction as far as the economy is concerned, according to ARMLS stats. I have to say this news is what we are all want to hear! It has been a long 4 to 5 years here in the Arizona real estate market. We all want to hear good news and with the start of the new year, I hope we can get it on a more regular basis! So what is being said? Foreclosures are dropping!! There are not as many foreclosures on the market and the pending foreclosures has dropped in the last year! This means that people are not losing there homes at the rate they were even a year ago! So here are some of the numbers: In January 2011 the number of pending foreclosures was at a staggering 40,641 with a drop in November 2011 to 22,389. This is a 45% drop in pending foreclosures!! This is good news that homeowners are able to afford their homes and they are able to sell them in a short sale before they hit the foreclosures! 

 

We still have a long way to go for a strong housing market, but we are working it in the right direction! 

If you have any questions please call me at 480-275-9566 or email me at rebeccakallhoff@gmail.com or check out my website at: www.sellingazwithrebecca.com

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