Phoenix REO median home price showed an increase of 4.1% - the firs time in April, 2009. In March 2009, 1,730 REO listings sold and 1,900 in April. Multiple offers above the asking price on REO homes are very common in today's market.
Phoenix, Glendale, Buckeye, Queen Creek, Gilbert, Goodyear, Avondale and Maricopa all experienced 45%or more reductions in the number of active REO listings. The City of Maricopa made its record of a 66% reduction of REO listings.
See attachment for more information about the REO listing changes in the major cities in central Arizona: Download REO_Listings_Down[1]