Although the total properties for sale in the Phoenix area MLS decreased by almost 2,800 to start January 2009, the number of those listings that were foreclosure-type properties increased by 2,800. As you can see by the chart, 41.2% of all active listings are now foreclosure-type properties. Therefore, anyone who thinks the market is close to bottom would still be wrong. For the market to hit bottom the number of foreclosures will have to start decreasing. Prices are still being driven down by foreclosure-type properties.
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January 02, 2009
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Metro Phoenix Foreclosures starting under $50,000
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