Phoenix inventory of homes for sale now as low as “normal” 2002

Mike Orr of the Cromford Report tweets, “ARMLS active inventory down to 131 days (based on annual sales rate). This is lower than we saw in May 2002, during the last ‘normal’ year.”

Here’s the chart Mike’s looking at.

I think I see a trend this year.

Note: The purple line is 2002. The other purple line (Hey, I don’t know the name of that color! It’s not really pink is it?), anyway, the shorter line, is 2011.

May 15, 2011 by Realtor John Wake

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John Wake

Born in Phoenix, trained as an economist and now a licensed Realtor, John uses hard data from the real estate market to help his clients -- buyers and sellers of residential real estate -- uncover their best choices for finding the right home or finding a buyer for their current home.

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