We have been talking about shrinking inventories for months (down to 67 days compared to 140 one year ago), particularly REO inventory, according to the Cromford Report.
Bank owned homes for sale in Queen Creek are down significantly to 30% of the market compared to bank owned homes for sale in Queen Creek a year ago at 44% of the market. Short Sale homes for sale in Queen Creek currently make up 36% of the market, up from 26% of homes for sale in Queen Creek a year ago sold as a short sale.
Homes for Sale in Queen Creek for example were selling at $58.19 per square foot as of 11/03/2011, up from $52.45 /sf on 5/06/2011 and prices of Queen Creek Homes for Sale are up over 4% for the year.
There are some listing brokers than believe that as the REO ( a favorite for investors ) inventories will continue to decline in 2012, they expect HUD inventories will increase, which will benefit any owner occupants that want to buy a home at the current market rates, which is less than you can build one for. ( subject to change I’m sure)
To do a Property Search of the MLS for homes for sale in the valley.
To search bank owned homes for sale in the east valley.
This information is for informational purpose and not intended to be investment advise, and should be explained to you in detail. You should always feel free to consult an attorney and/or tax adviser to obtain further information you deem necessary. I want you to be prepared.