Metro Phoenix Housing Market Update

Median sales price forecast to remain flat in November.

Tracking metro Phoenix’s housing market is a fun hobby for many homeowners again. Here’s a rundown of new numbers from the Arizona Regional Multiple Listing Service’s latest STAT report for October, plus a forecast for November.

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  • 6,041: Number of home sales.
  • 13.9 percent: The drop in home sales through October compared with 2012’s pace.
  • 10,695: New properties listed for sale.
  • 14.1 percent: The percentage increase in the number of homes for sale compared with October 2012.
  • $213,000: Median price of homes listed for sale.
  • 21.8 percent: Increase in median listing price from October 2012.
  • 6,199: Number of all pending foreclosures.
  • 53.9 percent: The drop in pending foreclosures during the past year.
  • 65 days: The average time it takes to sell a home.
  • 5 days: How much faster a home sold a year ago.

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“Looking ahead to November, the pending price index predicts the median sales price will remain flat,” said Tom Ruff, analysts for ARMLS and author of the report.

“As the holiday season begins, the combination of fewer properties under contract and fewer business days in November means sales volume will fall again this month.”

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