Glut Of Homes For Sale Appears...

Glut of homes for sale appears to be market correction, from the Arizona Republic Southeast Valley, reports that the Arizona Regional Multiple Listing Service says the number of homes for sale in the Southeast Valley hit 13,836 in March. A year earlier it was 1,068. The number of homes for sale- a 10 percent jump up from February- could be a record. The market is apparently still correcting itself after last years frenzy. The good news is that the number of homes sold in the Southeast Valley grew from 2,360 in February to 2,920 in March. Detached homes are taking an average of 53 days to sell, and condos are taking 40 days. One interesting note is the number of high-end homes for sale in the Southeast Valley. There were 2,455 homes priced at $500,000 or more in the Southeast Valley in March.



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