What is Shadow Inventory?
This is a very good and simple definition or meaning of Shadow Inventory.
The original and purest definition of “shadow inventory” is “homes owned by lenders that are not listed for sale”.
Here are the real numbers for Shadow Inventory in Phoenix
Active REO Inventory in Phoenix
There are currently 4,664 single family homes in Maricopa County owned by lenders, down 73% from the 17,595 they owned in October 2010.
This represents 0.46% of the single family homes in the county. That is 1 in 219.
However, many of these homes are listed for sale, or already under contract awaiting close of escrow.
The number of single family homes owned by lenders and not listed on ARMLS is 2,725.
This represents 0.27% of the single family homes in the county, or 1 in 375.
At one end of the spectrum there are a handful of small ZIP codes with zero “shadow inventory”. These are:
- Phoenix 85003, 85054
- Rio Verde 85263
- Fort McDowell 85264
- Aguila 85320
- Palo Verde 85343
The following ZIP codes have the lowest concentration of shadow inventory:
- Scottsdale 85258 – 1 in 3197
- Phoenix 85045 – 1 in 2693
- Tempe 85284 – 1 in 1985
- Sun City West 85375 – 1 in 1982
- Tempe 85283 – 1 in 1864
- Scottsdale 85251 – 1 in 1851
- Paradise Valley 85253 – 1 in 1641
- Carefree 85377 – 1 in 1510
- Scottsdale 85254 -1 in 1329
- Scottsdale 85259 – 1 in 1233
The following ZIP codes have the highest concentration of shadow inventory:
- Arlington 85322 – 1 in 47
- Apache Junction 85120 – 1 in 112 (Maricopa County area only – tiny part of ZIP code)
- Phoenix 85034 – 1 in 126
- Phoenix 85035 – 1 in 154
- Glendale 85301 – 1 in 156
- Phoenix 85009 – 1 in 164
- Phoenix 85031 – 1 in 166
- Phoenix 85043 – 1 in 169
- Youngtown 85363 – 1 in 178
- Phoenix 85041 – 1 in 186
To find out more about shadow inventory or distressed properties in your favorite zip code or city call me on 480-442-0779 or email me here
Data and information supplied by The Cromford Report