Sunday, February 22, 2009

Sunday Stats

bar-graph-by-miamiamia-id-987804photo credit to MiamiAmia, courtesy of StockExchange.

2-22-2009 8-36-37 PM

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Click here to see the entire Sunday Stats series, and for historical perspective.

Background and Color Coding: red is bad, green is good, inasmuch as it means the stats are moving towards a balanced market. Most local experts/forecasters and Realtors use 6 months’ supply of inventory on the market as the benchmark for a balanced market. Months of inventory is a measurement of how long it would take to sell every house currently for sale, if no new houses were listed for sale and sales continued at the current monthly pace. In metro Phoenix, balance is usually reached at about 5,000 sales per month and about 30,000 to 35,000 homes for sale.