Sales for single-family detached homes continued to slow in Maricopa County over the preceding 30 days, falling to 2,726. Inventory of single-family homes in the Phoenix real estate market rose to 40,368 as of this morning – an increase of roughly 200 net homes from a week ago.
As September marches on and October approaches, inventory should begin to fall as fewer homes are brought onto the market in the fall. At the same time, sales usually decline in the fall as well – whether this continues with buyers having sat on the sidelines for most of the summer remains to be seen, but remains a distinct possibility.
As a potential home seller, unless you’re priced aggressively and committed to remaining priced aggressively in light of market changes, this isn’t the time to try and sell.
Data below is from ARMLS and is deemed reliable but not guaranteed.
[tags]absorption rate, real estate sales, Phoenix real estate[/tags]