Seasonality not withstanding, it’s pretty easy to see the downward trend in the number of days homes sit on the market for sale in Phoenix - from 46 days in August 2016, to 41 days in August 2017, to 37 days last month (August 2018.)
Assuming the trend holds true, we should see homes sitting on the market a little longer as we head into the fall / holidays, before the market picks up steam again in the spring.
- Chris Butterworth
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* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.