As part of my efforts to keep on top of the real estate market, I keep track of the total number of listings on the MLS. I track all condos / townhomes / single family homes larger than $100,000 in price.
If you look at the trend line below, you'll see that the housing inventory in the Phoenix metro area continues to plummet.
What does this mean to you? If you're looking to sell, it means you'll be able to get a maximize the value of your home. The low interest rates, net influx of residents and low inventory means that home prices are increasing. I don't see this phenomena abating anytime soon.
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