Sales dipped slightly and inventory rose by a net of approximately 200 homes, leading to a slightly higher absorption rate for the preceeding 30 days.
Keep in mind these numbers only reflect single-family detached inventory and sales in the resale market - nothing from the builders is included, primarily because those numbers aren’t readily available. But builders remain the largest “x” factor in the Phoenix real estate market.
In discussing my theory on the builders with a formal builder - that either they’re too far in to stop or that they may know something the rest of us don’t - he suggested the builders aren’t concerned with current market conditions because they are not only willing but also able to drop their prices as far as necessary to clear our inventory, an option your average resale buyer doesn’t have.
| CITY | SOLD 5/18/07-6/18/07 | ACTIVE 6/18 | Absorption Rateas of 6/18/07 | Change | Buyer/Seller |
| Ahwatukee | 11 | 103 | 9.36 | 0.53 | Buyer |
| Anthem | 40 | 746 | 18.65 | 0.45 | Buyer |
| Avondale | 83 | 1,074 | 12.94 | 0.70 | Buyer |
| Buckeye | 57 | 1,018 | 17.86 | -0.65 | Buyer |
| Carefree | 9 | 113 | 12.56 | -9.04 | Buyer |
| Cave Creek | 39 | 611 | 15.67 | 2.05 | Buyer |
| Chandler | 321 | 2,331 | 7.26 | -0.66 | Buyer |
| Desert Hills | 18 | 180 | 10.00 | -0.53 | Buyer |
| El Mirage | 42 | 475 | 11.31 | 0.26 | Buyer |
| Fountain Hills | 32 | 414 | 12.94 | 0.12 | Buyer |
| Gilbert | 293 | 2,508 | 8.56 | 0.49 | Buyer |
| Glendale | 228 | 2,321 | 10.18 | 1.08 | Buyer |
| Goodyear | 93 | 1,258 | 13.53 | -0.96 | Buyer |
| Laveen | 41 | 518 | 12.63 | -1.69 | Buyer |
| Litchfield Park | 35 | 518 | 14.80 | 0.99 | Buyer |
| Maricopa | 65 | 958 | 14.74 | -0.23 | Buyer |
| Mesa | 409 | 3,342 | 8.17 | 0.77 | Buyer |
| Paradise Valley | 29 | 301 | 10.38 | 1.44 | Buyer |
| Peoria | 177 | 2,006 | 11.33 | -0.25 | Buyer |
| Phoenix | 986 | 9,209 | 9.34 | 0.12 | Buyer |
| Queen Creek | 140 | 1,992 | 14.23 | -1.08 | Buyer |
| Scottsdale | 364 | 3,440 | 9.45 | 0.49 | Buyer |
| Sun City | 72 | 502 | 6.97 | 0.01 | Buyer |
| Sun City West | 63 | 444 | 7.05 | 0.59 | Buyer |
| Surprise | 215 | 2,159 | 10.04 | -0.62 | Buyer |
| Tempe | 111 | 500 | 4.50 | -0.08 | Seller |
| Tolleson | 31 | 469 | 15.13 | -1.05 | Buyer |
| Waddell | 10 | 92 | 9.20 | 0.10 | Buyer |
| TOTAL | 3,903 | 38,422 | 9.78 | 0.23 | Buyer |
Data provided by ARMLS. Data deemed reliable but not guaranteed
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