Phoenix Real Estate Update - September 2011

If you thought buying a house was tough in August, just wait to see what September has in store. Inventory continues to decline - 2.3 months total available with only 1.6 months supply of short sales and 0.9 months supply of bank-owned properties. That's not a typo! At this moment, there are only 3013 active foreclosure on the market - that's it.

Based on current foreclosure activity and short sale volume, the market looks to remain a seller's market for the foreseeable future.

Despite the similarities to the tight 2005 real estate market, prices remain flat. Good luck buyers!

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