Bank Home and Short Sale Report | March 2024

February's distressed home sales were

12

That's 00.21% of total homes sales and 67% of the 3 year (2021-2023) monthly average of 18.

Distressed sales updated in March 2024

The # of distressed properties affects housing prices

We define distressed sales as both foreclosures and short sales. A low number of distressed properties creates no downward pressure on housing prices. A high number of distressed properties can dramatically reduce housing prices.

We've been helping people buy and sell distressed houses (bank homes and short sales) since 1999. These property types are more complicated than normal sales. Rely on us as your experienced professionals.

Text 602-300-0374 or email us

Observation

Distressed sales have accounted for under 1% of all sales for the last 4 years. It would take a substantial increase in distressed properties to have any effect on home prices.

NOTE: These numbers reflect only foreclosures sales and do NOT reflect the total sales. Click here for total monthly sales:

Phoenix Homes Sales

MOBILE USERS: Some of our tables are not mobile friendly because of the large quantity of data. If you’re a number cruncher like us you may have to use a desktop computer. The horror, right?

Table explanation

Bank Home and Short Sale Report

Date	% of Total Sales	Total Distressed Sales	REO Sales Only	REO Sale %	Short Sales Only	Short sale %	Cancelled Short Sales	Short Sale Success
Feb-24	0.21%	12	9	75.0%	3	25.0%	2	60.0%
Jan-24	0.48%	21	15	71.4%	6	28.6%	0	100.0%
Dec-23	0.39%	19	14	73.7%	5	26.3%	1	83.3%
Nov-23	0.28%	13	11	84.6%	2	15.4%	0	100.0%
Oct-23	0.31%	16	14	87.5%	2	12.5%	0	100.0%
Sep-23	0.38%	21	17	81.0%	4	19.0%	3	57.1%
Aug-23	0.31%	19	16	84.2%	3	15.8%	2	60.0%
Jul-23	0.30%	18	13	72.2%	5	27.8%	1	83.3%
Jun-23	0.35%	26	22	84.6%	4	15.4%	1	80.0%
May-23	0.26%	21	15	71.4%	6	28.6%	1	85.7%
Apr-23	0.36%	24	22	91.7%	2	8.3%	1	66.7%
Mar-23	0.19%	14	12	85.7%	2	14.3%	0	100.0%
Feb-23	0.25%	14	14	100.0%	0	0.0%	0	N/A
Jan-23	0.21%	9	9	100.0%	0	0.0%	0	N/A
Dec-22	0.31%	16	15	93.8%	1	6.3%	0	100.0%
Nov-22	0.22%	11	11	100.0%	0	0.0%	0	N/A
Oct-22	0.11%	6	5	83.3%	1	16.7%	1	50.0%
Sep-22	0.19%	12	10	83.3%	2	16.7%	1	66.7%
Aug-22	0.19%	12	12	100.0%	0	0.0%	0	N/A
Jul-22	0.26%	16	13	81.3%	3	18.8%	2	60.0%
Jun-22	0.14%	11	10	90.9%	1	9.1%	2	33.3%
May-22	0.26%	23	21	91.3%	2	8.7%	1	66.7%
Apr-22	0.12%	11	9	81.8%	2	18.2%	1	66.7%
Mar-22	0.13%	13	11	84.6%	2	15.4%	1	66.7%
Feb-22	0.15%	12	11	91.7%	1	8.3%	0	100.0%
Jan-22	0.2%	12	11	91.7%	1	8.3%	2	33.3%
Dec-21	0.2%	16	14	87.5%	2	12.5%	1	66.7%
Nov-21	0.2%	14	12	85.7%	2	14.3%	3	40.0%
Oct-21	0.1%	12	10	83.3%	2	16.7%	0	100.0%
Sep-21	0.2%	17	13	76.5%	4	23.5%	1	80.0%
Aug-21	0.2%	15	14	93.3%	1	6.7%	0	100.0%
Jul-21	0.2%	20	16	80.0%	4	20.0%	2	66.7%
Jun-21	0.2%	19	16	84.2%	3	15.8%	1	75.0%
May-21	0.3%	29	26	89.7%	3	10.3%	4	42.9%
Apr-21	0.4%	36	28	77.8%	8	22.2%	1	88.9%
Mar-21	0.4%	40	32	80.0%	8	20.0%	0	100.0%
Feb-21	0.4%	32	25	78.1%	7	21.9%	0	100.0%
Jan-21	0.4%	29	22	75.9%	7	24.1%	1	87.5%
Dec-20	0.5%	51	41	80.4%	10	19.6%	3	76.9%
Nov-20	0.4%	35	28	80.0%	7	20.0%	1	87.5%
Oct-20	0.5%	47	36	76.6%	11	23.4%	2	84.6%
Sep-20	0.5%	46	34	73.9%	12	26.1%	8	60.0%
Aug-20	0.5%	47	35	74.5%	12	25.5%	2	85.7%
Jul-20	0.6%	68	54	79.4%	14	20.6%	2	87.5%
Jun-20	0.6%	61	49	80.3%	12	19.7%	8	60.0%
May-20	0.7%	46	37	80.4%	9	19.6%	5	64.3%
Apr-20	0.8%	54	46	85.2%	8	14.8%	3	72.7%
Mar-20	0.5%	46	37	80.4%	9	19.6%	5	64.3%
Feb-20	0.6%	48	34	70.8%	14	29.2%	6	70.0%
Jan-20	1.1%	73	57	78.1%	16	21.9%	11	59.3%
Dec-19	0.7%	53	41	77.4%	12	22.6%	17	41.4%
Nov-19	1.0%	68	51	75.0%	17	25.0%	6	73.9%
Oct-19	1.1%	85	60	70.6%	25	29.4%	9	73.5%
Sep-19	0.8%	68	44	64.7%	24	35.3%	15	61.5%
Aug-19	0.9%	79	58	73.4%	21	26.6%	17	55.3%
Jul-19	0.9%	83	63	75.9%	20	24.1%	10	66.7%
Jun-19	1.0%	94	64	68.1%	30	31.9%	10	75.0%
May-19	0.8%	84	65	77.4%	19	22.6%	11	63.3%
Apr-19	1.0%	96	76	79.2%	20	20.8%	14	58.8%
Mar-19	0.9%	80	60	75.0%	20	25.0%	21	48.8%
Feb-19	1.3%	87	68	78.2%	19	21.8%	14	57.6%
Jan-19	1.1%	59	42	71.2%	17	28.8%	23	42.5%
Dec-18	1.5%	96	66	68.8%	30	31.3%	15	66.7%
Nov-18	1.3%	88	68	77.3%	20	22.7%	14	58.8%
Oct-18	1.6%	119	88	73.9%	31	26.1%	14	68.9%
Sep-18	1.3%	90	55	61.1%	35	38.9%	12	74.5%
Aug-18	1.4%	115	71	61.7%	44	38.3%	19	69.8%
Jul-18	1.4%	119	85	71.4%	34	28.6%	23	59.6%
Jun-18	1.3%	122	81	66.4%	41	33.6%	18	69.5%
May-18	1.4%	137	92	67.2%	45	32.8%	19	70.3%
Apr-18	1.5%	140	93	66.4%	47	33.6%	16	74.6%
Mar-18	1.9%	179	118	65.9%	61	34.1%	20	75.3%
Feb-18	2.2%	158	106	67.1%	52	32.9%	28	65.0%
Jan-18	2.7%	168	110	65.5%	58	34.5%	33	63.7%
Dec-17	2.2%	159	97	61.0%	62	39.0%	25	71.3%
Nov-17	2.1%	149	93	62.4%	56	37.6%	28	66.7%
Oct-17	2.2%	167	98	58.7%	69	41.3%	38	64.5%
Sep-17	2.2%	163	99	60.7%	64	39.3%	30	68.1%
Aug-17	2.4%	195	108	55.4%	87	44.6%	28	75.7%
Jul-17	2.2%	176	111	63.1%	65	36.9%	32	67.0%
Jun-17	2.2%	207	133	64.3%	74	35.7%	36	67.3%
May-17	2.4%	232	136	58.6%	96	41.4%	43	69.1%
Apr-17	2.4%	214	122	57.0%	92	43.0%	46	66.7%
Mar-17	3.4%	316	177	56.0%	139	44.0%	40	77.7%
Feb-17	3.9%	257	147	57.2%	110	42.8%	32	77.5%
Jan-17	3.5%	214	119	55.6%	95	44.4%	44	68.3%
Dec-16	4.2%	301	151	50.2%	150	49.8%	36	80.6%
Nov-16	3.6%	250	147	58.8%	103	41.2%	48	68.2%
Oct-16	3.6%	256	126	49.2%	130	50.8%	48	73.0%
Sep-16	3.7%	278	149	53.6%	129	46.4%	45	74.1%
Aug-16	4.5%	359	183	51.0%	176	49.0%	55	76.2%
Jul-16	3.8%	298	168	56.4%	130	43.6%	49	72.6%
Jun-16	3.5%	313	170	54.3%	143	45.7%	66	68.4%
May-16	3.7%	328	184	56.1%	144	43.9%	55	72.4%
Apr-16	3.9%	331	202	61.0%	129	39.0%	63	67.2%
Mar-16	4.5%	382	199	52.1%	183	47.9%	63	74.4%
Feb-16	6.0%	351	205	58.4%	146	41.6%	81	64.3%
Jan-16	6.3%	328	199	60.7%	129	39.3%	68	65.5%
Dec-15	6.2%	416	194	46.6%	222	53.4%	56	79.9%
Nov-15	5.8%	312	165	52.9%	147	47.1%	64	69.7%
Oct-15	6.3%	397	229	57.7%	168	42.3%	96	63.6%
Sep-15	6.1%	427	269	63.0%	158	37.0%	103	60.5%
Aug-15	6.1%	429	247	57.6%	182	42.4%	87	67.7%
Jul-15	6.3%	499	277	55.5%	222	44.5%	96	69.8%
Jun-15	6.3%	549	319	58.1%	230	41.9%	87	72.6%
May-15	6.0%	496	265	53.4%	231	46.6%	121	65.6%
Apr-15	6.4%	533	327	61.4%	206	38.6%	143	59.0%
Mar-15	7.0%	548	335	61.1%	213	38.9%	115	64.9%
Feb-15	9.7%	570	347	60.9%	223	39.1%	95	70.1%
Jan-15	10.1%	486	321	66.0%	165	34.0%	107	60.7%
Dec-14	9.6%	622	346	55.6%	276	44.4%	134	67.3%
Nov-14	9.7%	484	293	60.5%	191	39.5%	108	63.9%
Oct-14	9.9%	615	391	63.6%	224	36.4%	163	57.9%
Sep-14	10.3%	648	438	67.6%	210	32.4%	150	58.3%
Aug-14	10.1%	655	431	65.8%	224	34.2%	170	56.9%
Jul-14	9.7%	662	427	64.5%	235	35.5%	162	59.2%
Jun-14	10.0%	727	469	64.5%	258	35.5%	167	60.7%
May-14	10.6%	791	522	66.0%	269	34.0%	232	53.7%
Apr-14	10.3%	786	492	62.6%	294	37.4%	194	60.2%
Mar-14	11.4%	767	482	62.8%	285	37.2%	215	57.0%
Feb-14	13.7%	758	476	62.8%	282	37.2%	192	59.5%
Jan-14	16.5%	796	478	60.1%	318	39.9%	229	58.1%
Dec-13	17.0%	1,001	512	51.1%	489	48.9%	244	66.7%
Nov-13	15.4%	802	415	51.7%	387	48.3%	244	61.3%
Oct-13	16.1%	976	485	49.7%	491	50.3%	303	61.8%
Sep-13	16.7%	1,059	520	49.1%	539	50.9%	243	68.9%
Aug-13	20.7%	1,473	760	51.6%	713	48.4%	304	70.1%
Jul-13	19.4%	1,394	642	46.1%	752	53.9%	292	72.0%
Jun-13	20.8%	1,700	722	42.5%	978	57.5%	303	76.3%
May-13	21.8%	2,060	941	45.7%	1,119	54.3%	287	79.6%
Apr-13	24.1%	2,117	1017	48.0%	1,100	52.0%	361	75.3%
Mar-13	26.3%	2,133	952	44.6%	1,181	55.4%	355	76.9%
Feb-13	30.1%	2,003	1015	50.7%	988	49.3%	376	72.4%
Jan-13	34.0%	1,986	977	49.2%	1,009	50.8%	531	65.5%
Dec-12	38.1%	2,648	908	34.3%	1,740	65.7%	501	77.6%
Nov-12	36.1%	2,469	921	37.3%	1,548	62.7%	662	70.0%
Oct-12	39.3%	2,787	930	33.4%	1,857	66.6%	674	73.4%
Sep-12	39.5%	2,556	848	33.2%	1,708	66.8%	660	72.1%
Aug-12	43.2%	3,275	1,092	33.3%	2,183	66.7%	741	74.7%
Jul-12	43.9%	3,155	1,073	34.0%	2,082	66.0%	623	77.0%
Jun-12	43.6%	3,715	1,313	35.3%	2,402	64.7%	507	82.6%
May-12	43.3%	3,644	1,482	40.7%	2,162	59.3%	605	78.1%
Apr-12	43.9%	3,716	1,614	43.4%	2,102	56.6%	580	78.4%
Mar-12	46.6%	4,134	1,937	46.9%	2,197	53.1%	667	76.7%
Feb-12	51.5%	3,759	1,728	46.0%	2,031	54.0%	631	76.3%
Jan-12	57.8%	3,736	1,847	49.4%	1,889	50.6%	735	72.0%
Dec-11	59.1%	4,620	2,210	47.8%	2,410	52.2%	801	75.1%
Nov-11	59.3%	4,281	2,214	51.7%	2,067	48.3%	849	70.9%
Oct-11	64.3%	4,894	2,762	56.4%	2,132	43.6%	784	73.1%
Sep-11	64.1%	5,189	3,088	59.5%	2,101	40.5%	862	70.9%
Aug-11	67.1%	5,916	3,740	63.2%	2,176	36.8%	1,039	67.7%
Jul-11	67.0%	5,734	3,822	66.7%	1,912	33.3%	1,032	64.9%
Jun-11	67.4%	7,318	4,605	62.9%	2,713	37.1%	1,233	68.8%
May-11	65.5%	6,489	4,408	67.9%	2,081	32.1%	1,393	59.9%
Apr-11	64.4%	6,111	4,326	70.8%	1,785	29.2%	1,553	53.5%
Mar-11	65.7%	6,548	4,665	71.2%	1,883	28.8%	1,989	48.6%
Feb-11	67.8%	4,877	3,388	69.5%	1,489	30.5%	1,478	50.2%
Jan-11	70.1%	4,610	3,141	68.1%	1,469	31.9%	1,853	44.2%
Dec-10	69.3%	5,781	4,160	72.0%	1,621	28.0%	1,463	52.6%
Nov-10	64.3%	4,320	3,018	69.9%	1,302	30.1%	1,472	46.9%
Oct-10	66.3%	4,342	2,990	68.9%	1,352	31.1%	1,730	43.9%
Sep-10	67.0%	4,534	2,999	66.1%	1,535	33.9%	1,999	43.4%
Aug-10	66.2%	4,713	2,751	58.4%	1,962	41.6%	2,002	49.5%
Jul-10	63.0%	4,377	2,729	62.3%	1,648	37.7%	1,895	46.5%
Jun-10	60.5%	5,546	3,381	61.0%	2,165	39.0%	1,821	54.3%
May-10	58.6%	5,332	3,437	64.5%	1,895	35.5%	1,515	55.6%
Apr-10	59.0%	5,481	3,550	64.8%	1,931	35.2%	1,282	60.1%
Mar-10	59.2%	5,282	3,586	67.9%	1,696	32.1%	1,519	52.8%
Feb-10	62.8%	4,150	2,712	65.3%	1,438	34.7%	1,167	55.2%
Jan-10	65.0%	3,777	2,485	65.8%	1,292	34.2%	1,226	51.3%
Dec-09	65.6%	5,034	3,302	65.6%	1,732	34.4%	982	63.8%
Nov-09	60.2%	4,568	3,071	67.2%	1,497	32.8%	957	61.0%
Oct-09	63.5%	5,174	3,621	70.0%	1,553	30.0%	1,087	58.8%
Sep-09	67.0%	5,320	3,810	71.6%	1,510	28.4%	1,020	59.7%
Aug-09	68.1%	5,473	4,071	74.4%	1,402	25.6%	1,050	57.2%
Jul-09	68.9%	6,289	4,854	77.2%	1,435	22.8%	1,072	57.2%
Jun-09	70.6%	6,608	5,343	80.9%	1,265	19.1%	1,154	52.3%
May-09	73.9%	6,896	5,862	85.0%	1,034	15.0%	1,118	48.0%
Apr-09	74.8%	6,402	5,575	87.1%	827	12.9%	1,141	42.0%
Mar-09	75.9%	5,783	5,051	87.3%	732	12.7%	1,221	37.5%
Feb-09	74.7%	4,096	3,599	87.9%	497	12.1%	1,236	28.7%
Jan-09	74.6%	3,540	3,112	87.9%	428	12.1%	1,143	27.2%
Dec-08	60.9%	3,431	3,002	87.5%	429	12.5%		Dec-08
Nov-08	53.0%	2,288	1,957	85.5%	331	14.5%		Nov-08
Oct-08	51.4%	2,706	2,496	92.2%	210	7.8%		Oct-08
Sep-08	47.4%	2,908	2,793	96.0%	115	4.0%		Sep-08
Aug-08	47.2%	2,754	2,659	96.6%	95	3.4%		Aug-08
Jul-08	42.8%	2,557	2,477	96.9%	80	3.1%		Jul-08
Jun-08	37.9%	2,174	2,100	96.6%	74	3.4%		Jun-08
May-08	33.5%	1,888	1,823	96.6%	65	3.4%		May-08
Apr-08	29.3%	1,423	1,369	96.2%	54	3.8%		Apr-08
Mar-08	26.8%	1,146	1,115	97.3%	31	2.7%		Mar-08
Feb-08	23.9%	821	803	97.8%	18	2.2%		Feb-08
Jan-08	19.4%	557	551	98.9%	6	1.1%		Jan-08
		bank home and short sale report				bank home and short sale report

Table explanation
Bank Home and Short Sale Report Key:

“% Total Sales” means the percentage of all sales in the month that were foreclosure type properties
“Foreclosure Sales” means a total of bank owned properties and short sales.
“REO Sales” are only bank owned home sales.
“REO Sale %” shows bank owned sales expressed as a percentage of total foreclosure sales.
“Short Sales” are those in which the bank accepted less than the mortgage amount.
“Short Sale %” shows short sales expressed as a percentage of total foreclosure sales.
“Cancelled Short Sales” shows the number of short sales that were cancelled during the month, usually because the mortgage holder would not accept the proposed sales price. These properties usually become REO properties.
“Short Sale Success” = short sales / (short sales + cancelled short sales). This is a ratio of short sales that successfully close escrow.

This Bank Home and Short Sale Report reports less distressed properties as the housing market improves.