The absorption rate for the Phoenix real estate market rose above the 15 month mark as sales continued to slide as inventory remained flat. With just under 2,700 closed sales over the preceding 30 days, the current sales pace still is closer to the winter months than a normal summer.
Changes may be seen in next week’s report since it encompasses the end of the month – there typically are increased sales at month’s end as closings are scheduled later rather than earlier, and inventory may drop off as some listings expire.
Click on a marker below to see the sales, inventory and absorption rate for individual cities within the Phoenix real estate market.
Data is provided by ARMLS and is deemed reliable but not guaranteed.[tags]Phoenix real estate, absorption rate, Phoenix home sales[/tags]