This report is from Christopher Self of the Talon group and discusses the current stats on listing inventory. Thanks Chris for the stats!
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Our listing inventory is dwindling quickly, as you can see in the chart below. We experienced a 31% decrease of months’ supply in March; does this actually mean we are at the BOTTOM??

Well, I'd like to say YES... BUT... I know something many other people right now havent figured out just yet- many banks have a moratorium on foreclosures right now, seems like it hasnt stopped homes actually being foreclosed on BUT the banks are holding all of their inventory hoping the government will bail them out and remove the bad debt from their books. New listings should begin to hit the market again by end of May and we have been told by asset managers at several LARGE banks that we need to be prepared for the level to grow quickly again.

SOOOO just because we are seeing more multiple offers on bank owned homes, bidding wars, and prices being inflated... don't expect it to last all summer long - if the house is in good condition you do need to expect that there will be more than one offer in to the bank. These homes are normally well priced vs. the work needing done so they are selling FAST - and they have been for the past 18 months, not just recently!


New Listings Active Listings Sold Listings Months Inventory
Mar/2009 14,269 51,873 7,622 6.81
Feb/2009 12,726 53,394 5,434 9.83
Jan/2009 13,813 55,292 4,690 11.79
Dec/2008 11,954 57,379 5,459 10.51
Nov/2008 12,456 57,279 4,318 13.27
Oct/2008 14,678 56,570 5,335 10.60
Sep/2008 14,295 55,329 6,073 9.11
Aug/2008 13,588 55,406 5,556 9.97
Jul/2008 13,527 56,009 5,862 9.55
Jun/2008 13,559 57,344 5,674 10.11
May/2008 13,062 59,176 5,591 10.58
Apr/2008 13,827 60,230 4,809 12.52
Mar/2008 13,520 59,957 4,262 14.07
Feb/2008 13,068 59,497 3,440 17.30
Jan/2008 16,060 56,998 2,876 19.82
Dec/2007 8,976 58,610 3,340 17.55
Nov/2007 11,670 60,616 3,313 18.30
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Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572

p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!