Wow, another month of radical improvement in the Phoenix housing market!
February saw only approximately 1900 NTR (Notice of Trustee sales) filed. This marks the first month since the crash began with less than 2000 notices…
Meanwhile actual foreclosures came in at a low 1100, and cancellations came in at 1400
So, we end the month with 600 less homes in foreclosure than we started.
Compare this to a year ago, with over 2000 foreclosures, and 4000 notices.
Meanwhile, inventory continued to drop, from nearly 1800 recently, to 17130 today.
ALL data point to Phoenix home price appreciation continuing on into the summer, and until this data changes…