Slow but Steady Progress for Phoenix Real Estate Market

The real estate market in the East Valley is making slow and steady progress. The number of listings came down from May to June of this year. They decreased in June by 7.4% over June of last year. We still need significant reductions in listing inventory in order for the real estate market to come back into balance; however, the market does seem to be moving in the right direction. Additionally, the number of sales increased from June of 2007 to June of 2008 by 10%.

These statistics are for the homes listed or sold by members of the Southeast Valley Association of REALTORS® (SEVRAR). They will include sales of homes in the greater Phoenix area that were made by SEVRAR members. Even so, these statistics should be fairly representative of what is happening in the East Valley. SFD stands for Single Family Detached Homes.This data is supplied by the Arizona Regional Multiple Listing Service. ARMLS, West USA, and Pat & Amy Monahan do not guarantee the accuracy of the data.