Here are the latest numbers from the Greater Phoenix area market.
Today I want to go over the latest market numbers from August because they’re incredible. We can see our market beginning to normalize. At 0:30 in the video above, you can view all the numbers from the last 19 months. As you can see, this August there were 13,559 active listings, 11,059 new listings, 9,057 sold listings, and 1.50 months of inventory.
Year over year, these numbers are almost all down from August 2020 but compared to July 2021, they aren’t too crazy. In fact, inventory increased to a month and a half for the first time since February of this year.
When you look at the Cromford Index (a tool that measures balance in the market), it’s been evening out since March of this year. Don’t be surprised to see homes stay on the market a little longer than we’ve been seeing this year. However, we’re still in a strong seller’s market.
Hopefully, this blog post helped you understand the market a little better. If you are looking to buy or sell, give us a call at 602-738-9943, or send an email to jason@thepenroseteam.com. I am always willing to help.
