The long-awaited holiday decline in inventory finally is underway a mere three weeks ahead of Christmas, which leads to the conclusion that the decline will not be nearly as significant as in past years.
This news isn’t particularly good or bad … it is what it is. Many of the homes that are coming off the market now will be back on in January (March at the outside for those waiting 90 days before placing them back on the market.) At the same time, for the few buyers who look for housing deals almost as vigorously as they search for a Wii during this holiday season, selection remains fairly high.
The absorption rate for single-family homes in the Phoenix real estate market dropped back below 17 months based on the near 2,000-home drop in inventory and a 100-home increase in sales over the last rolling 30 days ending this week, compared to last week.
As always, click on any of the markers below to see the particulars for a given city or town in Maricopa County. And also as always, all data is provided by the Arizona Regional MLS and is deemed reliable but not guaranteed.
[tags]Phoenix real estate, absorption rate[/tags]