I just updated the link to the ARMLS (local MLS) report.
“… there are a few listings that have been on the market for more than eight years.”
Who ARE those people who list a home for eight years and can’t get it sold! I bet each one has a fascinating back story.
“Our unsold listings have 130 days on market on average whereas the average closed listing in September had 71 days on market… We expect a higher DOM for unsold listings, but it is surprising that we have so many long-haul listings in such a DOM sensitive market. In fact, there are a few listings that have been on the market for more than eight years.”
– Tom Ruff, ARMLS
You’ll find Tom’s commentary at the bottom of the ARMLS Stat Report.
I have a recent post – with great graphs – on exactly this topic over on my national website, Real Estate Decoded.
The Phoenix real estate market still looks strong. We’re not seeing a larger than normal increase in the number of homes listed for sale which would have suggested that next year’s price increases would be less than this year. At least not yet.