Please understand that I did these numbers by hand. I dont have any pretty charts or nice graphs.
I think the numbers speak for themselves.
Realizing the month of May isn’t over yet, it still seems like when month ends, the numbers will be a significant drop over previous months.
I attribute this to the end of the tax credit and snowbirds have flown back to the North.
In the Phoenix Metro area-as of today:
Active listings only (active on the market, NOT under a short sale contract or in escrow) 33,285
Active plus AWC and pending (These are active homes plus the homes that have offers on them and homes in escrow) 55,389
This means that 22,104 of these homes are waiting for the bank to accept or reject the offer!!
Closed homes in the Phoenix Metro area:
Jan 5918
Feb 6842
Mar 9174
Apr 9324
May 5523
