It’s still a buyer’s market.
According to ARMLS (Arizona Regional Multiple Listing Service) home sales for the month of April 2008 totaled 4,866 which is an increase of 13% over March 2008. By comparison April 2007 total sales were 5,535.
With 55,871 active lisitngs inventory/supply is running at 11.5 months. What this means is that it would take 11.5 months to sell all of the inventory on the market if we continue at April’s pace. A normal market is generally considered to have a supply of around 5 months inventory.
{ 0 comments… add one now }