Phoenix Real Estate Inventory Levels Hold Steady (June 2010)

Phoenix, AZ – One way to gauge how the real estate market is doing is to pay attention to the inventory levels. We measure this in “months supply”. What this means if not one more home came on the market it would take “X” number of months to clear out the inventory based on supply (the number of homes for sale) and demand (how many homes have sold in the previous months.

Looking at the June 2010 statistics we are holding steady at just over 4 months of inventory in the Phoenix AZ Real Estate market. Our inventory levels have remained fairly consistent over the previous year keeping us in the balance market range. A balance market is when we have between 4 and 6 months inventory. A seller’s market is defined as less than 4 months supply while a buyer’s market is when there is 7 or more months supply of homes. A few years ago Phoenix was a huge buyer’s market with over 20 months supply of homes, but prices have come down around 50% since the peek of the market and many people have taken advantage of the low prices and low interest rates.

Keep in mind that every neighborhood is different and to find out what the local trends are in your neighborhood contact:

Realty Executives




About openhousephoenix
Donald Keys has been a Phoenix "Valley of the Sun" resident since 1971 and a licensed REALTOR since 1997. Donald currently works for HomeSmart has formerly been with Realty Executives and Keller Williams. Donald specializes in working with Sellers and Buyers in the Phoenix AZ real estate market.

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