Phoenix Real Estate Market Update – #24

I missed a couple of updates, so my apologies to readers that have grown so fond of the green arrows of late.  Coldplay just finished playing at the Grammy’s, after an insightful interview on 60 Minutes, and now my work day can begin (yes, I’m a bit of a fan).

Across all of Maricopa County, there are currently 36,279 single family homes for sale, down by 960 from 2 weeks ago. There are 5037 sales currently pending, up by 1389 from 2 weeks ago. And 3926 homes closed escrow in the last 30 days, down by 52 from 2 weeks ago. As a result, broader Maricopa County now has 9.2 months of inventory, based on this week’s numbers.

As you can see, inventory has fallen noticeably from 2 weeks ago, with pending sales rising substantially.  I expect closings to be higher on a consistent basis week-to-week for several months now.  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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