September 15th – Active Real Estate Listings & Month’s Supply In Phoenix Metro Area
Last Week – Active Real Estate Listings & Month’s Supply In Phoenix Metro Area
Hey everybody, welcome back to another episode of Market updates with AZDigest.com. Today we're going to talk about, again, the Phoenix metro area real estate market. And we talked last week, about a few specific numbers, active listings, sales per month, and month supply. And we talked about how those are skewing a little bit towards not necessarily a buyers market but less of a seller's market just oh so little bit. And this week, when we look at those same numbers, they were still skewing that way. So again, this is the Phoenix metro area as a whole. So this is everything from Mesa to Scottsdale to Phoenix to Surprise, it's all of the cities and all the stats kind of combined into one and if you're watching the video, and just reminder, if you're listening to the podcast, you can click the link in the show notes to see the video or to see the screenshots that we're talking about. But last week, we said, Hey, a little bit more, a few more active listings, and a few less sales per month. And that gave us a month supply of 1.4. Well, if I jump over to this week's stats, again, and we highlight those same exact things, again, we see a few more active listings, right, which is more supply, we see a few lesser sales per month, which is a slightly less demand. And that gives us a month supply of about 1.5. Now, again, a reminder, a month supply right month supply means how many homes would we have left if no new homes hit the market? So it's kind of unrealistic, right, but have no new homes hit the market, and we were still selling at that same rate. How much inventory would we have? So last week we looked at it was 1.4. This week 1.5. So again, this is just something we're going to have to keep our eye out in terms of the real estate market, because as this numbers, you know, adjust more supply is better for buyers, less supply is better for sellers, right? If you think about if you're going to sell your home in the Phoenix metro area, if there's less supply, right, then there's less homes for people to look at your highest house is going to be a hot commodity, right? So, again, that month's supply number skewed up a little bit, which is good for buyers, right? Maybe the markets easing up a little bit. If you're looking to buy a home, it's been crazy over the last couple weeks and couple months. But if you're seller, again, not terribly bad news, if we compare it to last quarter, or last year, we still have that kind of restricted inventory. But this these are just numbers we're going to want to continue to look at for not only the Phoenix metro area, but for all cities. So if you want specifics, if you're looking for a specific, you're looking in a specific city in Phoenix, if you're looking in Mesa or Scottsdale, or Gilbert and you want us to pull these numbers for that city specifically, please don't hesitate to reach out. But again, for your market update, we want to just kind of showcase these numbers. So, as always guys, please like and subscribe. And again, if you're listening to the podcast, click that link in the show notes so you can see the diagrams and see the charts we're looking at. You can also see the video so thanks as always guys, and we'll see you next time.
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