The number of homes for sale is falling here in the Phoenix real estate market but so are the closed sales, resulting in higher inventory levels than we have seen for a while.
There are 19,700 single-family detached homes for sale in the Phoenix real estate market. Closed sales over the past 30 days have fallen to 5,903, for an overall inventory level of 3.34 months. Bank owned inventory is creeping higher but remains at under 1 month at 0.94 – 3,025 sales against 2,831 active listings.
Short sales stand at 4.87 months – this probably would be better if not for the likes of Bank of America, which seems content to watch buyers walk – and non-bank owned, non-short sale homes sit at 6.46 months, a half-month jump over the last 10 days.
As always, all the details from the various cities and towns in Maricopa County are on the table below. And also as always, all data is provided by the Arizona Regional MLS and is deemed reliable but not guaranteed.[table=63] [tags]Phoenix real estate[/tags]