As promised, here’s the full city-by-city absorption rate for the Phoenix real estate market. Only single-family properties are listed and all data is provided by the Arizona Regional MLS and is deemed reliable but not guaranteed.
As I was putting this together I had a “no, wait, really?” moment. Every week I run the numbers and plug them into the spreadsheet. I always glance at the absorption rates to see the change from the prior week but virtually never look at the raw sales numbers.
The market’s been slow, folks. There are no two ways around it. The key to selling in a market such as this is to have the home in the best condition and with the best price (or one of the best couple of prices.) Anything else and it will sit … and sit … and sit.
As always, click on any of the markers below to see the particulars for a given community. I’ll try and get this up in tabular format later today.
[tags]Phoenix real estate, real estate absorption rate[/tags]