Phoenix Real Estate Market Update – #22

This last week had 2 significant – nay – monumental events.  The first is that I am now the parent of a teenager.  My daughter Hayley turned 13 on Tuesday.  I’ve decided that makes me officially old.  The next is that the Cardinals are hosting the NFC Championship game, thanks to their win at Carolina, against the Philadelphia Eagles. My favorite thing I’ve heard regarding this is, “A couple more wins, and I just might be a Cardinal’s fan.”

Across all of Maricopa County, there are currently 37,139 single family homes for sale, up by 404 from September. There are 4746 sales currently pending, up by 352 from September. And 4140 homes closed escrow in the last 30 days, down by 52 from last week. As a result, broader Maricopa County now has 9.0 months of inventory, based on this week’s numbers.

As I predicted last week, inventory shot up significantly with over 750 new homes to market last week, which is a 2% increase.  The number doesn’t look that big, because of the large surge in homes that went sale pending, as you need to add the delta for both numbers together.

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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