Here’s the latest Phoenix real estate inventory and absorption rate update:
Net inventory fell by approximately 160 homes over the past week while sales for the previous rolling 30 days continued to slip, this time to 2,975.
Ironically, Housing Doom published information on a late rush of homes at the end of the month, pulling August numbers in line, which could mark the first time Twist has provided more positive news than me.
Our methodology is different – they have an agent pulling monthly sales out of ARMLS with no regard for the type of property or the county in which it’s located. Our numbers are strictly single-family detached homes in Maricopa County.
Maricopa County’s absorption rate crept slightly higher to 13.36; individual absorption rates dropped in 15 of the 28 cities and towns that I track.
One small change to this week’s map. In an effort to better illustrate week-over-week changes, I’m using green markers for areas where the absorption rate declined and red markers for areas where it increased. Previously I had been using colors to differentiate between buyers’ and sellers’ markets.
Data provided by ARMLS is deemed reliable but not guaranteed.[tags]Phoenix Arizona, Phoenix real estate, absorption rate[/tags]