Phoenix Real Estate Inventory Update: 12/4/07

Jonathan Dalton, Phoenix Real Estate AgentThe 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]

Jonathan Dalton

Jonathan Dalton is a 40-plus-year resident of the Valley and has been helping folks buy and sell homes since 2004. He can be reached at 602-502-9693 or info at allphoenixrealestate.com.

0 Comments

  • Dru Bloomfield 10 years ago

    “This news isn’t particularly good or bad … it is what it is.” –JD

    I’d like to be seeing more assessments, just like this. Real estate buying and selling decisions are made against the backdrop of the current market, but are more often made based on the buyer or seller’s personal situation. New job, new baby, tired of renting, tired of being cold, ….

  • Jonathan Dalton 10 years ago

    Absolutely, Dru …

    Had a lot of Canadian buyers recently and for them this was a great time to buy. The mood is beginning to change now with the US dollar strengthening vs. the Canadian but it’s a matter of personal circumstance.

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