Phoenix 55,000 homes listed

It's deal time with 55,000 homes listed

Aug. 17, 2007 05:44 PM

Home sales and building are down in metropolitan Phoenix, but there are other indicators to track where the housing market is headed.Here's a look at some.

• Home listings in the Valley climbed to almost 55,000 during the past few weeks. That's a new high. The number of houses that are marketed for a short sale to avoid foreclosure or are bank-owned is also up. That's good news for buyers looking for deals.

• About 85 percent of the Valley homes foreclosed on in July went back to the lender, according to the Information Market. That means fewer investors bidding on foreclosure properties on the courthouse steps. In many cases, more is owed on the home than what it's worth now.

http://www.azcentral.com/business/columns/articles/0817biz-catherine17-ON.html