Reactions to story from Phoenix Real Estate | Phoenix Homes for Sale | Dalton’s Arizona Homes Blog
Phoenix Real Estate - It’s a Sellers’ Market for Bank Owned Homes
http://www.daltonsazhomes.com/ blog/ 05062008/ phoenix-real-estate-its-a-sellers-ma...
Full numbers and the map will come later today after my stomach (hopefully) has recovered from a hellacious bout of food poisoning. We now have a sellers’ market in the REO world - 4,054 active listings with 910 closed sales over the preceding 30 days adds up to an absorption rate of 4.45 months. Five to six months is considered balanced, anything under is a sellers’ market. Aggressive pricing has been the key, giving credence to my earlier statement that the foreclosures are going to lead us to the bottom one sale at a time. Overall, the Phoenix real estate market has a 10.87-month absorption rate.
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