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Phoenix Real Estate Inventory’s Falling

Phoenix Real Estate Inventory’s Falling

avatarthumbnail.jpgReceived a somewhat breathless e-mail yesterday from one of the agents in my office letting everyone know that the number of active listings in the Arizona Regional MLS had slipped below 50,000 for the first time in many months.

As frequent readers know, I’ve always been less interested in the total number of listings than the number of single-family detached homes in Maricopa County. Though ARMLS serves the Phoenix real estate market, it’s clogged with properties across the state and non-traditional listings such as timeshares.

Checking the single family detached numbers, we’re below 35,000 now. Whether we remain below that mark remains to be seen, since today’s the first day of a new month and some listings expired yesterday that may re-appear.

ARMLS also is showing 4,100-plus closed sales of single family detached homes in Phoenix for the month of February, which would continue the trend of gradually increasing sales.

More statistics during our regularly scheduled programming on Tuesday.

[tags]Phoenix real estate[/tags]

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