The credit squeeze does not seem to have affected the Phoenix real estate market as much as the rest of the nation. Year over year units sold are looking very positive although prices still continue to decline. Heading into the holidays things look good for a robust 2009. Here are November's numbers through the week ending 11/30/08:
Active Listings: 14,100
Homes Pending: 1,832
Homes sold in last 30 days: 1,099 (down 16% from October '08, up 59% from Nov. '07)
Burn rate (Inventory on market/by homes sold last 30 days) = 13 months supply
Avg. Sale price (Solds): $159,127 (Down 6% from October '08, Down 44% from Nov. '07)
Avg. price per sq. ft. (Solds): $86.63 (Down $10 per Sq. Ft. from Oct. '08, Down 46% from Nov. '07)
Avg. Days on Market (Solds): 110 (Up 10 days from Oct. '08, Down 5 days, 4% from Nov. '07)
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