Comments on: Phoenix & East Valley Real Estate Stats: May 2007

By: Phoenix & East Valley Real Estate Stats: June 2007 at The Phoenix Real Estate Guy

Mon, 02 Jul 2007 18:08:24 +0000

[...] stats for May are available here for comparison. In short, listings are up (though less than we've seen in the past), Days on [...]

By: Jay - The Phoenix Real Estate Guy

Jay - The Phoenix Real Estate Guy — Sat, 02 Jun 2007 21:38:11 +0000

Hugh –

I suspect what you’re seeing is due to using averages. The actual DOM varies wildly. Remember, if one home sells in a day, and another sells in 180 days, you’ve got a 90 day average DOM.

Also, the average DOM is trending upward (which you can’t tell from the above data).

And we get new listings coming on the market every day, which suppresses the average DOM number.

What would be telling is to plot a histogram of DOM for current listings. Unfortunately, that would be very painful data to extract from our MLS…

By: einzige

einzige — Sat, 02 Jun 2007 20:04:31 +0000

Your readers might be interested in this graph of Metro Phoenix Notices of Foreclosure. May was a record high.

By: Hugh Farrell

Hugh Farrell — Sat, 02 Jun 2007 18:56:36 +0000

The numbers do not make sense to me. The average days on market are all in the neighborhood of 3 months while the ratio of units sold to units listed indicate between 5 and 10 months of inventory. Could you explain that to this newbie?