Maricopa Foreclosure Listings on the Rise - Again!

Over the past few weeks Maricopa has seen a wave of new foreclosure listings. In mid October there where approximately 170 active Bank Owned Properties and now today we have 308 active listings. Sales volume has been strong since March 2008 and was at record levels in September 2008 (174 Sales). October recorded 154 sales which was the 3^rd strongest month for sales in Maricopa this year. Mid November data shows a slow down in both sales (48) and pending sales (201). The slow down is typical for this time of year and to put it in perspective this November will have the highest number of sales in Maricopa for any November on record. The primary issue remains the massive amount of foreclosure and short sale listings. The combination of the seasonal slow down and wave of new foreclosure listing has increased the estimated supply to 14.02 months. Octobers estimated supply was 8.51 month in Maricopa.