INVENTORY OF SINGLE FAMILY HOMES DOWN 33% YEAR TO DATE

How about that for a head liner. It is the truth. On January 1, 2009, there were 43,000 Single Family Homes on the market in the MLS here in the Metro Phoenix area through ARMLS. Today that number is 28,851. That is a 33% drop in inventory over the past 4.5 months! The real estate market here is the valley is turning positive.
I listed a home just north of Grayhawk in Scottsdale on Tuesday. We have 4 offers and will be selling the home for over list price. It was listed based on the last comps. Yes, it is a bank owned Foreclosure home, but what difference does it make? It is selling for more than the last sale, that is called appreciation.
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