January is nearly always the slowest month of the year for home sales in Phoenix. Sales generally start increasing in February. Since 2001, we’ve had January to February increases from 10% to 25%. So far this month though, things are looking slow. Check out these numbers:
ALL MLS
January 1-16 2007: 2314 sold [average 145 sales/day]
February 1-14 2007: 1354 sold [average 96 sales/day]
February 1-14 2006: 1769 sold [average 126 sales/day]
Most closings occur at the end of the month- so there is still time for February to rebound. Whatever sales do though, they are unlikely though to keep pace with inventory. As of 2/15 there were 46,063 properties listed for sale. Two weeks ago there were 44912, for an increase of 1151. [January 4 there were 41,799 listings.]
This is Phoenix sales vs. listings as per the MLS reports:
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