November Foreclosure and New Housing Analysis
While November 2009 sales increased 17% from 2008, foreclosures also increased by 6% with 420 but had a 45% decrease in the value of the foreclosed properties leveling out at $33,751. Frayser continues to be among the cities with the highest number of foreclosures each month, seeing 42 in November. Bartlett (38135) had the highest increase in foreclosures with 24 versus 5 in 2008.
Shelby County had 77 new home sales for November with an average sale value of $220,363. Cordova held the highest number of new home sales with 19 valued at $133,365. The Top Builder for the month was Kevin Hyneman who sold 6 new homes. Grant Homes pulled the most new home permits in November with an average value of $195,452. Arlington remains at the top of the new home permit list with 19 permits pulled for the month and an average permit amount of $371,943.
Click here to read the latest article from The Daily News on the local housing market.
View the latest Market Trend reports from Chandler Reports.
