Phoenix Real Estate Market Update - #18

I hope you are having a safe and relaxing Labor Day Weekend.  This week, the number of sold homes appears to be suspect, as they are significantly higher than last week.  Either that’s very, very good news, or the new feature of FlexMLS, to move a Pending listing to Sold, automatically, based on anticipated close of escrow date, may be erroneously closing transactions that haven’t yet closed.  The most common cause of an error like this, is due to a short sales, where close of escrow dates are often estimated.

Across all of Maricopa County, there are currently 36,756 single family homes for sale, down by 248 from last week. There are 5293 sales currently pending, down by 269 from last week. And 5343 homes closed escrow in the last 30 days, up by 506 from last week. As a result, broader Maricopa County now has 6.9 months of inventory, based on this week’s numbers.

The following is a breakdown of the 11 cities around Phoenix I’m following:

*All data comes via ARMLS, and is presumed to be reliable, but is not guaranteed. All numbers represent single family detached homes only. Condos, townhouses, timeshares, vacant land lots, and manufactured homes are not represented in these numbers. All sold properties were sold in the last 30 days.

The following trend indicators are relative to the previous week’s update:

Positive move upward Positive move downward

Negative move downward Negative move upward .

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