In order for the real estate market to come back into balance, the number of listings needs to come back down to a more normal level. A positive sign for the market in the southeast valley is that the total number of houses and condos listed for sale by SEVRAR members declined from April to May by 3.5%. This is the second month in a row that the number of listings has declined. Additionally, the number of sales increased from April to May by 17% and May 2008 had 2.5% more sales than May of last year.
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.