The Phoenix real estate market has had a great first quarter of 2013.
Inventory is still low as we've got more people wanting to buy a home in Phoenix, Scottsdale, Tempe, Chandler or any other Valley city, than we do those who want to sell their home. Prices are increasing so maybe people are waiting to be able to get more out of their homes. Right now we have multiple offers on a lot of properties in desirable areas. By desirable we mean Phoenix or surrounding area. Not too far of a drive out.
Here's a graph on the first Quarter of 2013
Our months of supply is a tell tale sign as to how healthy our market is. A balanced market usually has a 3-4 month supply. Our current market has a two month supply.
Let's talk about Distressed…