And the latest from the Phoenix real estate market is … not much has changed in the past week. Both inventory and sales are down a handful of homes and the absorption rate of 8.30 is virtually unchanged from last week.
Bank owned homes are much the same story – virtually flat sales and inventory from a week before.
As far as individual cities and towns go there now are seven areas with absorption rates of less than six months. Experts say an inventory of between five and six months denotes a neutral market, where neither buyers nor sellers have any added advantage:
- Queen Creek, 4.61 months
- Anthem, 5.05 months
- Ahwatukee, 5.44 months
- Surprise, 5.52 months
- Tolleson, 5.71 months
- Goodyear, 5.83 months
- El Mirage, 5.96 months
Below are the full numbers for all of Maricopa County and the Phoenix real estate market. 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]