Things keep chugging along here in the Phoenix real estate market.
Inventory of single family detached homes in Maricopa County rose slightly to 36,639 while sales over the past 30 day. Sales over the preceding 30 days were down by 20 leading to a slightly increased absorption rate of 8.52 months.
Bank owned inventory rose by over 100 homes while sales increased by about 30; the absorption rate for REO properties now sits at 3.39 months of inventory. Just over one in three sales in the Phoenix real estate market are bank owned homes. And, just in case you are curious, these are actual sales only and not failed trustee’s sales where the property reverts to the bank.
Below are the numbers for the different cities and towns within Maricopa County. As always, all data is provided by the Arizona Regional MLS and is deemed reliable but not guaranteed.[table=16] [tags]Phoenix real estate[/tags]