Housing market updates are sent to us every month courtesy of Maggie Clark with Equity Title Agency, Inc. We are passing the information on to you.
In general - sales of Maricopa County single-family homes in April were 40% REO (Lender owned), 22% short sales, and 37% normal sales.
Total home sales for the month of April were up 5% over March. Current housing inventory is down from the previous month
Months of supply of housing by area are as follows:
Awhatukee 5.1
Apache Junction 4.2
Buckeye 3.1
Cave Creek 8.1
Goodyear, Litchfield Park and Avondale 3.4
Phoenix - Central Corridor 7.9
Fountain Hills 6.2
Glendale and Peoria 3.4
East Valley 4.1
Northwest Valley 3.9
Paradise Valley 16.3
Scottsdale 7.5
Valleywide 4.6
Luxury Homes 26.8
The supply of homes for sale has been steadily decreasing during the past few years. A 6 month supply of homes is considered a balanced market. Less than 6 months is considered a seller's market, and more than 6 months is considered a buyer's market.
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