We hit the highlights yesterday with the discovery that inventory’s at a two-year low and that hasn’t changed today.
As of this morning there are 29,674 single family detached homes for sale in Maricopa County – a drop of some 1,300 homes since last week. Of these, 6,413 are bank owned and 23,261 are not.
Over the past 30 days, there have been 5,705 closed sales in the Phoenix real estate market – roughly the same as in last week’s report. These include 3,887 bank owned homes and 1,835 non-bank owned that sold.
With the decrease in inventory the absorption rates also have dropped. Overall, the Phoenix real estate market has 5.20 months inventory of single family detached homes, a decrease of .2 months or about 6 days. Bank owned inventory is down to 1.66 months and non-bank owned inventory also fell to 12.6 months.
As always, details for the different cities and towns in Maricopa County are included on the table below. And also as always, all data is provided by the Arizona Regional MLS and is deemed reliable but not guaranteed.[table=45] [tags]Phoenix real estate, absorption rate[/tags]