Providing these market statistics is much like being a meteorologist here in Phoenix during the summer months.
Today – hot, sunny, chance of evening thunderstroms. Tomorrow – hit, sunny, chance of evening thunderstorms. The next 52 days – hot, sunny, chance of evening thunderstorms.
So goes this week’s inventory update for the Phoenix market – single-family detached homes down, absorption rate down, sales continued high.
As of this morning there are 20,150 single-family detached homes for sale in the Phoenix real estate market. Of these, there are 3,225 bank owned listings, 5,253 short sales and 11,672 traditionsl sales.
There were 6,638 closed sales over the past 30 days – 3,655 bank owned, 1,008 short sales and 1,975 traditional sales.
Overall, we’re looking at 3.04 months of inventory remaining on the market. Bank owned are at .88 months, short sales at 5.21 and traditional sales at a not-bad 5.91 months.
As always, all of the details from the various cities and towns in the Phoenix real estate market are below. And also as always, all data is provided by the Arizona Regional MLS and is deemed reliable but not guaranteed.[table=58] [tags]Phoenix real estate[/tags]