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Arizona Housing Not So Distressed Any More

December 3, 2012

For the last 6 years, distressed properties sales (REOs and Short Sales) have had a major impact on the housing market here in Arizona. In many cases a higher percentage of distressed sales negatively impacts pricing in the market, creating even more distressed sales as home values fall further. It’s a self-sustaining cycle that we seemed to be stuck in.

That being said, the housing market has improved significantly in the last year. Let’s take a look at where distressed properties are now as a factor in the market.


In November 2012 61% of the closed residential sales were non distressed, while only 39% were distressed.

Tucson Non Distressed vs Distressed Closed Residential Sales November 2012

For comparison, a year ago (November 2011) only 46% of the closed sales were in fact non distressed, with 54% distressed.


In Phoenix the shift is even more dramatic. November 2012 saw 69% of the closed residential sales being non distressed, while only 31% were distressed.

Phoenix Non Distressed vs Distressed Closed Residential Sales November 2012

For comparison, a year ago (November 2011) only 46% of the closed sales were in fact non distressed, with 54% distressed.

What Does It Mean to You?

The housing market in Arizona is improving. Less bank owned properties and short sales means price stabilization and appreciation, which is already happening.

These statistics are based on information obtained from the TARMLS and ARMLS using Brokermetrics software on 12/3/2012. Information is believed to be reliable, but not guaranteed.

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