Phoenix Homes Today
Mike Caruso's Blog


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Sellers Market?


"I can tell you how busy I was last year" (very), "I can tell you how busy I am this year" (busier than last), "I can tell you how busy some of my fellow Realtors are" and "I can tell you how busy lenders, title companies and appraisers are"......but let me show you the numbers.  As they say, the proof is in the pudding.  (I have no idea what that means-first one to tell me wins a $5 gift card to Starbuck's.)

To get an accurate view of the Phoenix Real Estate Market, or any market for that matter, it is wise to look at past inventory, current inventory, number of homes currently under contract, and number homes that have sold in recent months.

In January of this year, there were over 33,000 available homes listed for sale in the Arizona Realtor MLS.  Today, there are 19,769 homes available homes.  That is a net loss of just under 50% of available inventory from January. 

Currently there are 19,158 homes under contract.  That means 19,158 buyers have accepted offers on homes in the Phoenix Real Estate Market. 

Looking at Sold homes, it's important to start with a baseline.  In my opinion, and based on historical numbers, selling 7,000 homes or more in a one month period in the Phoenix Real Estate Market could be called a great month for the market.  Selling 10,000 homes or more could be considered an incredible month. 

This year, ARMLS, the Phoenix based MLS system recorded the following sales: 
January                6524
February              7155
March                  9957
April                    9457
May                     9799
June                   10397
July                     8448
August                8776
September          8098

These numbers do not include homes that are sold as new construction by builders, homes sold at Trustee Foreclosure Auctions, or homes that are sold by owner outside of the ARMLS system.  These homes typically total over 2,000 homes a month.  That means for the last 7 months IN A ROW, the Phoenix Real Estate Market has closed over 10,000 homes in each month. 

Those numbers are off the charts.  There's proof in the pudding.