Quick Phoenix Real Estate Absorption Rate
Posted on January 15th, 2008 by Jonathan Dalton
City-by-city numbers won’t be available until this afternoon but the overall absorption rate for the Phoenix Real Estate market jumped to 18.09 months.
Inventory of single-family detached homes in Maricopa County rose by more than 700 homes to 38,226 while sales fell off to 2,113 – the lowest figure for a 30-day period since I started tracking the data in July 2006.
Sales likely will continue to decline over the next two weekly updates; they’re a lagging indicator of what was happening in the market roughly 30 days ago.
[tags]Phoenix real estate, real estate absorption rate[/tags]
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