Phoenix Area Home Market at a Glance - Sales strong but not as strong as last year

[mEDITate-OR:
not see the implications of this very interesting chart about Phoenix

First, this year sales have increased from about 5,000 to 7,500 = up 2,500
listing increased from about 30k to 34k, or up 4,000
So listings increased half again more than sales.

Second, from Jan 05 listings went from 10k up to 55k in Jan 08
while sales dropped from 8k in the summer of 05 down to 3k in Jan 08
listing increased by 45,000
while sales dropped by 5,000

Third, in the summer of 05 the supply of homes was equal to sales, or 1 month
in Jan 08 the supply of homes was 55k divided by 3k or 18.333 months.
Today, the supply of homes is 34,000 divided by 7,500 or about 4.666 months.

Fourth, in the summer of 09 the increase in sales from Jan's 5k to 8k
bottomed out the median price of homes decline...
and bottomed out the listings decline...
and brought 8k new listings back into the market.

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Phoenix Area Home Market at a Glance
- Sales strong but not as strong as last year
by JOHN WAKE on JUNE 26, 2010
http://www.arizonarealestatenotebook.com/2010/06/26/phoenix-area-home-market-at-a-glance-sales-strong-but-not-as-strong-as-last-year/
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