Case-Shiller: Home price gains decelerate rapidly

Case-Shiller: Home price gains decelerate rapidly

Biggest drop in HPI since November 2012

Can Quicken Loans save Detroit?

Forbes: “Dan Gilbert is saving Detroit to help his business”

Monday Morning Cup of Coffee: Love or loathe – Reverse mortgages, Holder’s legacy

Plus, a week of critical housing and mortgage finance metrics ahoy
W S
Lending / The Ticker

Vacant home inventory falls in Phoenix

house above
/ Print / Reprints /
| Share More
/ Text Size+

According to USA Today, three years ago, one out of every 10 houses in Phoenix stood vacant. Today, it’s closer to one out of every 100.

In 2009 and 2010, houses were vacant for months. Now, properties generally are vacant because they are in transition between owners. The turnaround is credited to investors, who streamed in to buy dirt-cheap properties for cash. In many cases, these houses were turned into rentals for those who had lost properties to foreclosure or otherwise couldn't afford to own. Once some of the massive amount of housing inventory was absorbed, it helped win back the confidence of some traditional buyers.

Source: USA Today
Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus