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Shortage of housing? Where are all the listings?
What is going on in Arizona? The total number of ACTIVE listings in the Valley is only just over 21,000. Last July that number was over 32,000 and around the same time back in 2009 there were about 43,000 listings on MLS.
Where are all the listings? What happened to our Buyer's Market? 
*Foreclosures are down slightly from 2009.
*Many homeowners have already short sold their homes and now are renting.
*Homeowners used to move into a new home every 3-7, many within the same general vicinity. It seems homeowners are now choosing to stay put in their underwater homes, instead opting to add a room or remodel rather than take a loss or short sell.
One might conclude that supply and demand dictates that such little supply will surely create a buyer frenzy?
Will prices skyrocket again?          .....not likely......
It is much more difficult to obtain conventional financing these days so the actual number of qualified buyers is lower than in recent years. With unemployment still very high there simply aren't as many buyers, period. FHA loan limits are going down (by 22% here in AZ) and interest rates will likely continue to rise knocking even more buyers out. ... more

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