I am tracking just how many month’s inventory we presently have in our MLS, and thought I would share. Sellers and Buyers need to be aware of two things:

Sellers - you are competing with over 51,000 other listings as of today.

Buyers - you can now purchase a home that is affordable and available.

I pulled up a couple of graphs from our Arizona MLS to give the readers an idea of what our inventory is now, what is active, what is pending, etc., compared to 2007. There are about 13,000 Bank owned, and 11,000 Short Sales. As you will see, there is an 11+ month’s supply of inventory; however, more properties are being sold.

It’s interesting to look at the numbers. It might be a more realistic “look” for the sellers listing their homes in this market. This is definitely the best market I’ve ever seen for buyers. Though short sales and bank owned can be a challenge, there is so much from which to choose that it can be worth it. AND though there are many of these short sales and bank owned, many sellers have priced their homes at competitive pricing.