The number of homes for sale in metro Phoenix is declining, a sign that the housing market could start to recover this year.
However, foreclosures and short sales continue to dominate the region's home sales.
Data from the Arizona Regional Multiple Listing Service show the number of homes for sale in the Phoenix-area dropped by almost 3,000 to 42,500 in December. Fewer homes for sale means less supply. Demand from homebuyers must return to balance out the healthy equation for the market. Housing inventory averaged about 43,000 a month during 2010.
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