…things look better the last 2 weeks than the previous, oh, the previous one million or so. Or at least the previous 10.
There were 10 new foreclosure listings the week ending June 6th, 2010, spread over 6 of Greensboro’s 9 residential zip codes. Still too many, and that’s 10 homeowners in a bad way. But it’s a relief to see the lower number. And it’s the second lowest in thepast 17 weeks.
Slowly – very slowly – we’re beginning to hear news stories reporting what we all want to hear, namely, that the tide may be turning. Or at least slowing down. Here’s one such story.
Not only that, when comparing the 12-week rolling period ending last Friday, there’s a decided drop in the number. The graph looks like a schematic for the “Thunder Road” roller coaster at Carowinds. The 12-week totals have been in the 180′s or nearly there since March but the last 2 weeks have shown a decline from the high of 186 and this most recent week the number fell all the way to 169. February 28th is the last time it was this low.
Again, some Greensboro zip codes are more impacted by foreclosure listings than others. This week 27405 and 27407 have half the listings between them, with 2 & 3, respectively.
Over the last 12 weeks, those two zip codes plus 27406 account for 59% of the total listings.
Just for good measure, I’ll add that the number of foreclosures listed this week are actually fewer than this same week last year.
The 12-week total is still higher this week than the same period last year, but the news is encouraging on balance. And we’ll take it, right?
We’ll see what next week brings us. There’s still too much inventory of all types, and certainly too many foreclosure listings. But The fewer distressed sales – and distressed sellers – there are, the better for all sellers and for the community.
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If you have questions, comments or a good joke to share shoot me an email. I’m a full time Realtor®, I love what I do and would be thrilled to hear from you.
* All data from Triad Multiple Listing Service (MLS) and is only as good as the information entered, which is done by humans, who make errors. The information is only for those residential zip codes for Greensboro and does not include the surrounding communities.
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Great info and really cool graphics.
Good Work!
Keep the info coming…….
Please.
Glad you like it. As for the graphics, I guess even when the news isn’t pretty, the pictures can be.
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