After reporting yesterday’s 5% drop in inventory I took a second look at the numbers today and there was an increase in single-family homes for sale in the Phoenix real estate market – a whopping 11 so far.
Again, expectations are for much of the inventory that came off the books yesterday to re-appear in time but I’m not expecting to see immediate turnarounds on some of the properties.
The absorption rate for Maricopa County is at 15.14, the lowest figure since September 24 of last year. If trends hold, this should drop over the next few months and start rising again later in the summer. Of course, form hasn’t held in some time.
As always, click on any of the markers below for inventory and sales data from the cities and towns 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, real estate absorption rate, real estate inventory[/tags]