There was a significant drop in residential resale inventory in March 2009.  In Feb 2009 there were 57,435 active listings and in Mar 2009 there were 48.836.  As of today there are 44,380 residential homes for sale (single family homes, condos etc)

Phoenix Home Prices Still Declining

I get asked a lot- are we at the bottom?  I wish I had a crystal ball. In my opinion once the foreclosure inventory is flushed out, prices will stabilize. Inventory is declining so that is a good sign.

Phoenix Foreclosures

Currently of the active listings, 9947 are foreclosures.