Weekly Phoenix Arizona Homes for Sale Report

This weekly report will indicate an improvement (indicated in Green) when our “Active Listings” Decrease & our “Pending” and “Sold” Listings Increase.
 
This week, our inventory increased slightly with a slight decrease in buyer activity.  This is not unusual for summer as temps rose to the triple digits.  As long as our Active Listings do not increase significantly, we should continue this plateau through the summer.
 
While the Phoenix Real Estate market is currently experiencing a high inventory of homes for sale resulting in a buyer’s market, our market is definitely now on a positive trend and appears to be correcting ever so slowly.  With more buyer activity over the last three months, our market’s inventory has continued to fall.  The entire Arizona Regional MLS is now carrying less than a year’s worth of inventory. We will be in a  balanced market when we reach approximately 6 months worth of inventory.
We currently have  9.6 months worth of inventory in
Active Listings in MLS.
(Up from 9.3 last week.)
Arizona Regional MLS Inventory Data
(All dwelling types)
53,071 Active Listings Up 187 from last week
9,229 Pending Up 126 from last week
5,539 Sold in Past 30 Days Down 175 from last week
        Sold dates range is 5/25/2008-6/25/2008
Total Listings as of 6/25/2008
Information reliable but not guaranteed.
 
The Southeast Valley currently has 8.3 months worth of inventory
Active Listings in MLS.
(Up from 7.9 months last week.)
Southeast Valley* MLS Inventory Data
(All dwelling types)
 
18,174 Active Listings Down 32 from from last week
3,523 Pending Up 37 from last week
2,200 Sold in Past 30 Days Down 106 from last week
 
        *Southeast Valley cities include Ahwatukee, Apache Junction, Chandler, Gilbert, Guadalupe, Mesa, Queen Creek, Scottsdale, Sun Lakes and Tempe
 
      Sold dates range is 5/25/2008-6/25/2008

Total Listings as of 6/25/2008
Information reliable but not guaranteed.