Wow a last minute reprieve regarding the tax credit! What’s that mean? We’ll have fewer cancelations of the 17,000 properties currently in escrow. With all the discussion regarding an extension for the last couple of weeks, it appears that not all the lenders, sellers and buyers believed that it was necessary to close by 6/30. Oh well June still has, at this time 9083 closed, that’s basically the same as May, but down about 3% from June 2009. REO and Short Sale (SS) trends continue, namely REO’s are dropping (36%) in number and SS are increasing (25%). Pendings are dropping also – they’re now at 10,502, with 7200+ in AWC.
Regarding the foreclosure numbers, some noteworthy items: New Notices: 6170 the lowest # since 4/08; Number of completed foreclosures 4894-which is up 800 from May; Cancellations 4540-the 2nd highest on record and + 900 from last month; The change in the Pending Foreclosure #’s was the largest drop on record @2673-down to 42,324 the lowest since 3/9. The Bank Owned number rose by 500 to 16,861. You can see the Maricopa County Foreclosure Statistics graphed here.
More Good News! Gota Love That!
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