As of this morning, there are 29,936 single family detached homes for sale in Maricopa County, marking the first time inventory in the Phoenix real estate market has fallen below 30,000 since January 2007.
NOTE: These figures exclude the 114 auction properties on the market, which exist in a state of semi-permanent limbo – you can’t make offers on them and there’s no guarantee they’ll sell at auction.
On the bank owned side, inventory has fallen to 6,547, the first time REO inventory has been below 7,000 since October.
Full absorption rate numbers will follow in the next day or so.[tags]Phoenix real estate[/tags]