Activity Continues To Be Strong And Inventory Keeps Declining
Posted by Artur Ciesielski on Wednesday, August 17th, 2011 at 1:26pm.Active inventory continues to decline despite the market having passed the peak buying season. Take a look at the graph below by the Cromford Report (modified by us) which shows total residential active inventory on the 16th of August as only 19,761. Compare it to the same time in 2010 with 36,885 properties and 31,676 two years ago.
This is why it's getting difficult to find a home to buy. Furthermore, if you eliminate all those homes that are active, but are truly not participating in the market: they are on the market, but not in it, then the real inventory is even lower.
I think it's rather amazing what's going on, some would say frustrating since they cannot buy a home; being, often beat out by other eager buyers.
Artur Ciesielski | 602.492.8004
Artur is a Realtor and partner with inPhoenix Realty Group and an aspiring flaneur, currently in Phoenix or elsewhere when time allows, which is rarely. You can find him running up miles on this car, cycling the urban streets, in the office on Central or working at one of the many coffee shops in Central Urban Phoenix.
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