Inventory essentially was flat once again, holding steady at 39,463 single family detached homes for sale in Maricopa County. Sales dropped slightly to 3,040 over the preceding 30 days for an absorption rate of 12.98 months.

Bank owned homes currently have a 5.5-month absorption rate - 4,010 active listings versus 730 sales the previous 30 days. And short sales are holding at a rate of 12.5 months of inventory - 4,442 active listings and 359 closed sales.

Cities and towns with high percentages of foreclosed homes are leading the way in terms of absorption rate - Queen Creek, Surprise, Anthem, Maricopa among them. This is not much of a surprise as bank owned homes continue to carry perceived (if not always inherent) value.

As always, click on any of the markers below for information on a particular city or town within the Phoenix real estate market. And also as always, all data is provided by the Arizona Regional Multiple Listing Service and is deemed reliable but not guaranteed.

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