Friday, April 25, 2008

Maricopa County Absorption Rate

With the increase in Pending numbers and subsequent increase in Sales numbers since the beginning of the year, we've hit a mark in Absorption Rate that we haven't seen since August 2007. We are back under 12 months of inventory (a.k.a. Absorption Rate) for the first time in 8 months. While the Sales numbers have gone up fairly consistently since about February of this year, the number of available homes (a.k.a. inventory) for sale has stayed relatively flat. Specifically, the Sales numbers since February of this year have increased by just over 47%, while the inventory level has increased only by .25%. Now that's what I like to see. Here is the chart illustrating the Absorption Rate since the March 2007.

As I have been for the past few years, I'll continue to keep an eye on the current trends in our market and share the information that I think you'll find pertinent. If you are curious about something specific, whether that be numbers in your area or an area that you've got your eye on, or just a different set of numbers from the market as a whole, let me know. This is one of the many things that I enjoy doing.

-Steve Nicks

[tags] market analysis, absorption rate [/tags]