Vacant Homes – Phoenix Metro Area Real Estate

June 18th, 2008 · No Comments

As more and more bank-owned foreclosure properties hit the real estate market in the Phoenix metropolitan area, we will continue to see more vacant properties.  The proof’s in the numbers.  The number of sold properties that are vacant has risen significantly in the past in the last year.  Nearly 26% of all sold listings in May 2008 were vacant, the highest level in over eight years.  Click on the chart below to expand it.

may2008phxmlsvacant.JPG

Vacant listings also affect overall sales figures because a vacant sale is a one-off sale.  The buyer purchases the listing and that’s it.  The seller (usually a bank) does not, in turn, purchase another home.  There is no domino effect with vacant listings.

Tags: Real Estate News · Real Estate Statistics

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