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Phoenix Real Estate Inventory: I Think I Was Wrong

Phoenix Real Estate Inventory: I Think I Was Wrong

The magic number I’m predicting is 12,750 … that will be the bottom for inventory and then we’ll see the number gradually rise in the winter. I’m not quite as comfortable with a guess on that side but I’ll say 21,000 just for the fun of it all.

Those were my words right here back on July 24. Inventory declines had slowed even after that post was written and I thought I was safe.

This morning, needing a blog topic, I pulled the numbers from the Arizona Regional MLS and discovered this result waiting for me:

My prediction of just over three weeks ago has come true, and on the nose I might add.

Except I’m not sure this level is going to hold. An increase in inventory is inevitable now that all the kids are back in school and as Labor Day approaches. Yet buyer demand hasn’t started to slacken

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