Visit our web site at www.pacellagroup.com to view property listings, or for additional information.

We are continuing to see the number of foreclosures in our market shrink.  It is rumored that the lenders are working diligently to put effective methods in place for quickly and effectively approving short sales within a 7 day period, and to be able to close escrow within 45 days of approval, which will reduce the exposure to the lender, and mortgage insurer.

Our supply and demand have remained level over the past two months, however according to "The Cromford Report," "Overall pricing weakened noticeably in August, consistent with a normal seasonal pattern. Relatively strong pending pricing suggests that this is not likely to become a long term trend."

CURRENT CONDITIONS IN THE PHOENIX MARKET:

There are 23,858 single family detached listings actively on the market today.  That is a decrease of 203 listings for the week.

Total listings, including condos, patio homes, and town homes active in MLS today are 31,090.

Absorption rate and months of available supply are still varying widely from one area of the Valley to another.  Please contact us for information regarding a specific area.