Here’s some of the latest stats….

economic_trends

May 10 – The Black Knight Financial Service Mortgage Monitor report for March shows a dramatic fall in delinquency over the past 2 months. There is something of a seasonal pattern in these numbers and January to March is the time of year when the delinquency rate tumbles almost every year. However it is significant that the total delinquency rate for the USA is now at pre-housing crisis levels and the 30-day delinquency rate is the lowest in well over 15 years.

For Arizona we have 2.9% of first home loans delinquent and 0.5% in foreclosure, making 3.4% of loans non-current. The long term average is 5%.

For those who like working foreclosures, Arizona is not a very productive location any more.

May 9 –  The detailed single family permit counts have finally been released for March by the US Census Bureau. The total for Maricopa and Pinal counties is confirmed as 1,797, which is the highest monthly total since August 2007. It is also an increase of 25% over March 2015.

For the first quarter of 2016 we can now show 4,436 single family permits in total, up 33% from 3,333 last year and the highest number since 2007, when there were 8,710.

The top locations so far in 2016 are:

  1. Phoenix 656 – up 47% from 445 in Q1 2015
  2. Mesa 478 – up 76% from 271
  3. Gilbert 468 – down 1% from 475
  4. Peoria 374 – up 22% from 307
  5. Unincorporated Pinal County 358 – up 37% from 261
  6. Chandler 340 – up 73% from 196
  7. Buckeye 314 – up 64% from 191
  8. Queen Creek 239 up 24% from 192
  9. Scottsdale 212 – up 13% from 187
  10. Goodyear 200 – down 17% from 242
  11. Maricopa 200 – up 36% from 147

So Mesa and Chandler are the two cities with the fastest growth in new home construction while Goodyear and Gilbert are decelerating.