From the Cromford news line:
April 1 - Foreclosures are not a hot topic anymore, but continue to happen in good times as well as bad.
In March we had a slight increase in the number of new Notices of Trustee Sale in Maricopa County from 923 to 965 (up 4.5%). We also had a very slight rise in Trustee Deeds from 572 to 575 (up 0.5%). However this is misleading because March had a 10.5% increase in the number of days that the trustees were working, up from 19 to 21.
If we look at the number of notices per working day, we declined from 49 to 46 (a drop of 5.8%).
If we look at trustee deeds per working day, we declined from 30 to 27 (a drop of 10%).
This is the most accurate way to measure foreclosures. Looking at the monthly counts is very popular and common, but of no use at all if you are trying to detect small changes. This is because the change in the number of working days in each month is much greater than the change in the foreclosure numbers, so the noise is larger than the signal. April has 22 working days, so even though it is a shorter month than March it should have 4.8% more foreclosures than March if foreclosures have reached a stable level. At the moment we have not reached stability and the declining trends in foreclosure starts and foreclosure completions are still intact.
There are currently only 2,980 lender owned properties in Maricopa County. There are only 4,494 pending foreclosures (active notices). To put these into context we counted 16,342 lender owned properties and 45,173 pending foreclosures at the beginning of April 2010.
Residential numbers are about 92% to 94% of the totals. Some 6% to 8% are commercial or other non-residential.
#Avondale , #Goodyear , #Buckeye , #Glendale, #Phoenix, #Surprise, #Peoria, #Tolleson, #Laveen, #Waddell , #Wittman
In March we had a slight increase in the number of new Notices of Trustee Sale in Maricopa County from 923 to 965 (up 4.5%). We also had a very slight rise in Trustee Deeds from 572 to 575 (up 0.5%). However this is misleading because March had a 10.5% increase in the number of days that the trustees were working, up from 19 to 21.
If we look at the number of notices per working day, we declined from 49 to 46 (a drop of 5.8%).
If we look at trustee deeds per working day, we declined from 30 to 27 (a drop of 10%).
This is the most accurate way to measure foreclosures. Looking at the monthly counts is very popular and common, but of no use at all if you are trying to detect small changes. This is because the change in the number of working days in each month is much greater than the change in the foreclosure numbers, so the noise is larger than the signal. April has 22 working days, so even though it is a shorter month than March it should have 4.8% more foreclosures than March if foreclosures have reached a stable level. At the moment we have not reached stability and the declining trends in foreclosure starts and foreclosure completions are still intact.
There are currently only 2,980 lender owned properties in Maricopa County. There are only 4,494 pending foreclosures (active notices). To put these into context we counted 16,342 lender owned properties and 45,173 pending foreclosures at the beginning of April 2010.
Residential numbers are about 92% to 94% of the totals. Some 6% to 8% are commercial or other non-residential.
#Avondale , #Goodyear , #Buckeye , #Glendale, #Phoenix, #Surprise, #Peoria, #Tolleson, #Laveen, #Waddell , #Wittman
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