As I mentioned before, there’s a new ARMLS MLS system coming on-line this month. Here’s a cool inventory graph that I created with the new statistical capabilities of this system. Click on the thumbnail view for a full size. This graph includes all Maricopa County single-family homes from January 2006 to June 2008.
One bit of striking information you get from this graph is the steep drop in months of inventory since January ’08. Inventory dropped over 50% from a high of about 19 months to June’s 8.7, and is back to 2006 levels.
Part of this may be explained by more bank-owned listings coming on the market, and their high turn-over rate. Another thought is that sellers are now pricing more realistically, also driving more sales. In any case, its a positive direction, at least for sellers. Buyers may want to consider getting off the fence soon.
Copyright © 2008 Rod Rebello
www.TempeAgentNews.com
No related posts.
{ 1 trackback }
{ 0 comments… add one now }