Visit our web site at www.pacellagroup.com to view homes for sale or for additional information.

We continue to see significant decreases in the inventory in the Phoenix market.  Many areas of the Valley are in a balanced market, and some are in a seller's market with multiple offers on properties selling within a few days.

This week, foreclosures account for approximately 16% of the active inventory (down 1% from last week), and 64% of properties selling.  According to the Cromford Report, at our current rate of absorption, there is a 1 month supply of foreclosure inventory.

Reviewing MLS data from the same time period one year ago, pending sales hve increased by 78% and closed sales have increased by 70%.

Current Conditions in the Phoenix Market:

Today, there are 27,782 single family detached listings actively being marketed in MLS.  That is a decrease of 1074 listings since last week.  We have seen listing inventory consistently melt week over week since January.

Total listings, including condos, patio homes, and towhomes active in MLS today is 36,016.

Absorption (the number of listings pending sale, versus the number of listings actively available) is 34% Valley wide this week.  The absorption rate and inventory are varying throughout the Valley.  For information regarding a specific area, please contact us at www.pacellagroup.com