Please visit our web site at www.pacellagroup.com for additional information, or to view properties for sale.

It's no secret that there are some amazing bargains in our current market, and many people are taking advantage of the opportunity. We are seeing a surge in the purchase of vacation homes, income producing investment/rental property, and first time home buyers.

Reviewing the MLS data for the same period one year ago, the Phoenix market is continuing to see inventory melting. In the past 30 days, there have been 6,570 closings, which is a 63% increase over the same time period last year. Pending sales are up 77% over the same time period last year. The increase in year over year ativity has been consistent throughout this first quarter.

Current Conditions in the Phoenix Market:

Today, there are 39,173 single family detached listings actively being marketed in MLS. That is a decrease of 262 listings over the past week.

Total listings, including condos, patio homes, and townhomes active in MLS today is 48,782.

The overall absorption rate (the number of listings going pending versus the number of active listings on the market) has increased to 18% this week!

If you have any questions, or are interested in taking advantage of this bargain market, we would be happy to lend our expertise - besavoy@msn.com