Across all of Maricopa County, an area larger than New Jersey, there are 11,863 single family detached homes for sale following the New Year’s expirations.
Last month, there were 5,871 closed sales according to the Arizona Regional MLS.
That means we have a hair over two months of inventory entering the month of January, following what historically is the slowest month of the year.
A balanced market is 4 to 5 months. And that’s why I say, don’t fear the alleged shadow inventory. We have a listings shortage.