Real estate question

[Bignate603]

I know that this number is tracked but I just can't find it. I'm thinking of buying a house here in the Tempe/Mesa AZ area but I'd like to try and buy at the bottom of the market for obvious reasons. While I know it's impossible to know exactly when the bottom has been hit I figure I can get a decent idea by tracking the numbers of people about 2 months behind in their mortgages. Many banks are postponing foreclosures right now so that's not necessarily the best number to track it by so I figured looking at delinquent mortgages would be a bit better.

Does anyone have any idea how to get this number for the past few months? I've tried googling it a few different ways. I'm looking for the Tempe/Mesa AZ area in particular but the greater Phoenix area or Maricopa county would be better than nothing.

 

[SampSon]

Go to you local board of realtors website. They have the most data.

NHMSI is the central location for government and lender owner real estate.

You're not going to be able to deduce anything from the number of people behind at least 2 months in their mortgages. That isn't an accurate indicator of the health of a real estate market. I'm not sure how you would extract any useful data on the "bottom" of a market by the number of residences behind X number of months on their mortgage.

For reference, forbes has ranked Phoenix as the #2 worst market in the nation, right behind Las Vegas.

Phoenix isn't going to hit "bottom" for at least another year, or two.

 

[Bignate603]

I was looking to find a trend looking month to month. While people are going to keep losing jobs and things more people will fall behind the huge wave of people losing homes due to sub-prime mortgages should stabilize sooner or later.

I'm looking to grab a small house or condo to live in for a few years, and then rent for a few more. I'll probably own it for at least 5 years.

 

[StageLeft]

They will fall for a while yet. With unemployment going up quickly and the major stats all being damning on housing, the bottom is undoubtedly not here yet.