Quick Phoenix Real Estate Absorption Rate

Jonathan Dalton, Phoenix Real Estate AgentCity-by-city numbers won’t be available until this afternoon but the overall absorption rate for the Phoenix Real Estate market jumped to 18.09 months.

Inventory of single-family detached homes in Maricopa County rose by more than 700 homes to 38,226 while sales fell off to 2,113 – the lowest figure for a 30-day period since I started tracking the data in July 2006.

Sales likely will continue to decline over the next two weekly updates; they’re a lagging indicator of what was happening in the market roughly 30 days ago.

[tags]Phoenix real estate, real estate absorption rate[/tags]

Jonathan Dalton

Jonathan Dalton is a 40-plus-year resident of the Valley and has been helping folks buy and sell homes since 2004. He can be reached at 602-502-9693 or info at allphoenixrealestate.com.