I just recently started blogging again. Two posts ago, I defined Absorption Rate and pointed out how the Absorption Rate for homes in the Phoenix metropolitan area had been trending down. I must also point out that I originally (some 2 years ago) got the idea to post Absorption Rate statistics from a colleague - Jonathan Dalton. Well guess what - and this isn't an April Fool's joke. The Phoenix Real Estate market may now actually be "balanced" with balanced defined as an Absorption Rate between 5 and 6 months with regards to a supply of single family detached homes (Valleywide we are now at about 5.5 months supply). Many towns in the metro area are actually now seller's markets while some areas, primarily older areas closer in remain buyer's markets (less foreclosures due to more owners having been there for long periods of time?). See the latest data below (per ARMLS, deemed reliable but not guaranteed.
To continue reading, please go to my website for all the statistics!
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