Welcome to our Phoenix real estate market report for the recently finished month of April 2014. April is the 5th month of the buyer's market that began in December 2013. The biggest question on most people minds is: "what's happening to supply and demand?" Let's start with supply.
Inventory in the Phoenix Real Estate Market
Housing inventory has become very stable in the Phoenix MLS averaging 26,200 homes in the last 4 months. As a historical perspective, listings were at a 7 year low in the summer of 2012 when they stayed under 13,000 for 3 consecutive months. This event triggered a seller's market in the Phoenix real estate market that lasted nearly 18 months. The sellers market ended in December 2013 when, after listings increased for 18 months, we approached our normal inventory level of about 25,000 listings. Inventory has become very stable over the last 4
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