Total sales for March increased by 1,620, which represents a 22.3% increase over February. At the present time, there are only 11,202 homes that are currently active on the market in Maricopa County, which has approximately 1.4 million homes. Just 30 days ago, we had over 15,000 homes that were actively listed for sale. The bottom line is that we have a SERIOUS supply problem in today's market. This lack of supply is hurting the overall number of sales metric, but is helping the market in many other ways, which I will go over in this months report.
ARMLS recently released the numbers for March/2012 in their monthly STAT Report, and the results are very positive. Here is a breakdown of what happened in March in the Metro Phoenix Real Estate Market: