March of 2010 there were 35,000 listings int he Phoenix area
March of 2011 there were 30,000 listings in the Phoenxi area
Today there are just over 11,000 units.
The median price has risen 1% per month for tha last 8 months.
Forclosures represented more than half the available units on the market in 2009 or more than 28,000 homes. Today they represent just over 22% of the available units for just 2450 homes. Look for the market to continue to climb until pricing rises to a level that new home permits are around 20,000 units per year. Then a more traditional rise in the market will occur.
Homes are in good shape and priced correctly are receiving multiple contracts for more than full price.