As Aerosmith would say, it’s the same old song and dance.
Inventory of single family detached homes in the Phoenix real estate market fell again this past week, but this time only by about 400 homes. Closed sales over the past 30 days are off slightly at 6,987 for an absorption rate of 3.35 months, a hair higher than a week ago.
Bank owned inventory is off slightly compared to last weekj, down to 3,689 active properties in Maricopa County. We had 4,592 closed sales the past 30 days and the absorption rate remains at 0.8 months.
Non-bank owned, non-short sale homes (jn other words, evberyone else), sits at 8.27 months – 1,672 closed sales the past 30 days and 13,837 active single family detached listing listings.
As always, the details from the various cities and towns in the Phoenix real estate market is below. And also as always, all data is provided by the Arizona Regional MLS and is deemed reliable but not guaranteed.[table=50] [tags]Phoenix real estate[/tags]