Facts and figures were through about 8:30 last night, though I held off on posting in the belief no one’s really worrying about absorption rate on Christmas evening, Refuge from an overdose of family comes from spiked egg nog, not real estate inventory numbers – unless you’re Jeff Brown.
There were 2,533 sales of single-family detached homes over the preceding 30 days, the highest such figure since August 24 – September 24. This on the surface doesn’t made sense because the market generally cools with the weather. But that hasn’t been the case over the past two years:
What’s telling is this Christmas isn’t like last Christmas. Last Christmas I gave you my heart … wait, wrong song. Last Christmas subprime financing still was in abundance. So was the ever-popular stated income 100 percent finance option. The credit crunch had yet to come to fruition and the Fed had yet to start hacking at the prime rate.
Changes are reflected in the number of sales but have had next to impact on the general trend year-over-year. Where things will go over the next couple of months is anyone’s guess.
As always, click on any of the markers below for the particulars for a given city or town. 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]