"Listing Success" for Phoenix Homes for sale in August 2009.
The listing success for Phoenix Homes for sale in August 2009 was over 65%. What is listing success? It's defined as the percentage of listings for Phoenix Homes for sale that closed with a sale rather than expiring or being canceled. The opposite way to state this is that 35% of listings that terminated in August were either expired or canceled. Obviously, the pricing/quality of those homes were not consistent with the marketplace demand.
Listing success can be a very good indicator of the relationship between the prices of Phoenix homes for sale, supply, and demand. Higher success indicates a relative match between the 3 factors and generally good sales. A higher percentage is good for the marketplace, and Phoenix homes for sale stay on the market for much less time. Buyers have to act quickly to get good deals. 
Lower success indicates the opposite. As seen in 2008, the prices for Phoenix homes for sale, supply, and demand were not in balance. This resulted in fewer sales sellers having to terminate their listings in frustration.
The chart illustrates 2009 has been a much more favorable year than 2008 for Phoenix homes for sale. Roughly speaking, listing success has been about 50% better in 2009.
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