Valleywide, all dwellings

Actives: 57,727

Unsold: 54,170

Under Contract in the Last 30 Days: 3,557 (6% of actives)

Valleywide, single family dwellings

Actives: 47,540

Unsold: 44,574

Under Contract in the Last 30 Days: 2,966 (6% of actives)

Valleywide, luxury homes

Actives: 3,210

Unsold: 3,080

Under Contract in the Last 30 Days: 130 (4% of actives)

East Valley, all dwellings

Actives: 19,779

Unsold: 18,328

Under Contract in the Last 30 Days: 1,451 (7% of actives)

Analysis

While the valleywide housing inventory is up slightly from last week, there were still several positive changes in the Phoenix real estate market.  For example, although the number of active homes on the market valleywide is up by just over 100, the number of homes under contract is also up.  Even better than that, in every other market measured (single family dwellings valleywide, luxury homes valleywide, and all dwellings in the East Valley), the ACTIVE INVENTORY is DOWN and SALES are UP!  Now that’s something to get up and dance about!  Of course, to be accurate, the percentage of homes under contract compared to homes still active in each market measured has not risen.  So what this means is that the percentage of homes left unsold has not decreased, which in order to make real progress towards lowering the Phoenix housing inventory, needs to happen.  In the meantime, however, let’s enjoy these positive market indicators.  Temperatures may have started to cool down here in the Valley of the Sun, but the real estate market has just started to sizzle!