Inventory for single-family detached homes in Maricopa County jumped slightly, but slower sales over the last rolling 30-day period caused the absorption rate to jump above the 9-month mark for the first time since I started tracking the figures last July.
The primary cause for this week’s jump in absorption rate? Christmas and the other December holidays, all of which took place during the latest 30-day range, December 22 through today. While real estate inventory rose by around 400 homes, sales fell to just over 3,200 – down from more than 3,600 for the 30-day period ending January 15.
The one bright spot: a net increase of 400 homes is fairly minimal in an area as large as Maricopa County and the greater Phoenix area.
For sellers, the lesson … pay close attention to the five factors that will determine if and how fast your home will sell: price, location, condition, market conditions and marketing. All may not be in your control, but take control of what you can and adjust to the rest.
Realism is the byword.
|CITY||SOLD 12/22/06-1/22/07||ACTIVE 1/22||Absorption Rate
as of 1/22/07
|Desert Hills||8||175||21.88|| 3.88
|Sun City West||31||533||17.19||1.50||Buyer|
Data provided by ARMLS. Data deemed reliable but not guaranteed