Banks’ influence on the market

June 24, 2008 in Chris B, Foreclosures / Short Sales, Market Analysis by Chris Butterworth | 1 comment

I pulled together a chart to summarize how many Active Listings out there are owned by, or need approval by, a bank. The numbers may be a surprise, but the distribution isn’t; the outlying suburbs (which were investor-driven in 2005) have a significantly higher percentage.

Lender Owned SFR listings

City Bank Owned Total Active Listings Pct
Scottsdale 149 4,061 3.7%
Tempe 22 511 4.3%
Peoria 174 1,626 10.7%
Surprise 225 1,536 14.7%
Phoenix 1,817 10,361 17.5%
Buckeye 199 1,112 17.9%
Maricopa (city) 150 807 18.6%
       
Maricopa (county) 4,630 37,257 12.4%
       

Lender Involved SFR listings (short sales included here)

City Bank Involved Total Active Listings Pct
Scottsdale 297 4,061 7.3%
Tempe 55 511 10.8%
Peoria 388 1,626 23.9%
Phoenix 2,933 10,361 28.3%
Buckeye 363 1,112 32.6%
Surprise 519 1,536 33.8%
Maricopa (city) 363 807 45.0%
       
Maricopa (county) 8,800 37,257 23.6%
       

Wow – what a difference! In Scottsdale, you’ll find a foreclosure in 1 out of 27 Active Listings. In Maricopa (city), you’ll find a bank’s involvement in 45% of the Active Listings!

Your wishing he had done this post a few months ago so he could compare trends Realtor,

Chris Butterworth

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