Can the Phoenix Real Estate Market Recovery Sustain Itself?

There have been a pair of articles of note of late, spelling doom for the national real estate housing market. The first comes from SeekingAlpha, where the downturn in existing home sales as reported by NAR has the author believing the bull market of the past year-plus is going to stall. I’m hard pressed to disagree, […]

Phoenix Real Estate By the Numbers – January 2013

Let’s take a look at the Phoenix real estate market by the numbers in January. And I promise, we’ll keep the lights on through the entire post. As of the moment, there are 11,025 detached homes for sale. As I said this weekend, that’s essentially the same level we’ve been at for the past couple […]

Two Quick Inventory Notes

First, courtesy of AZCentral’s Catherine Reagor (with a hat tip to Dean Ouellette at the Phoenix Real Estate Guy), it appears the so-called shadow inventory took a bit of a hit last week deep in the, um, shadows … Several buyers were interested in the Phoenix houses Fannie Mae was selling. Originally, 341 in the […]

Phoenix Real Estate Inventory Rising Quickly

Remember those halcyon days when there only were 7,200 single family detached homes on the market? That period quickly is becoming a distant memory. As of this morning, there are 8,571 detached homes for sale in Maricopa County – roughly 18 percent more than at the lows of June and roughly 7 percent more than […]

“Phoenix Overshot the Downside”

From Steve Cook of the BiggerPockets real estate investment blog: A new study of some of the hardest hit markets like Phoenix suggests that prices have been so low that they have been offering bargains for buyers because they became detached from economic fundamentals and now prices are rising as inventories reach record lows. “Phoenix […]

Shadow Inventory: ‘It’s a Bit like the Y2K Problem”

Still waiting for the flood of bank-owned homes to hit the Phoenix real estate market? It may be a long wait. From KTAR.com … Right now, there are about 8,800 homes for sale in the Phoenix area, compared with 50,000 in 2008. Many people believe the low number is because banks are holding foreclosed homes […]

Phoenix Real Estate Inventory May Be Stabilizing

A quick check of the Arizona Regional MLS shows just over 7,700 single family detached homes on the market – a total that has held steady, give or take 100 homes, for the past week to 10 days. And that leads to the conclusion that after nine months of falling inventory, we  may finally have […]

How Deep is the Phoenix Market Recovery?

Within the next handful of weeks, we’ll likely know the depth of the Phoenix real estate market’s recovery. Many signs appear to point to the month of June as the time when, if there is shadow inventory to be found, it will hit the market. In the interim, the mere fact the Phoenix real estate […]