For this week anyway, the increase in inventory has stalled and returned to previous levels. There is also some interesting news regarding PENDING transactions.

ACTIVE: 276, down from 287. It remains to be seen whether or not last week’s increase was just a “blip” in the radar or a sign of things to come. I’ll be watching this area very closely.

ACTIVE SHORT SALES: 100, stable from 103.

ACTIVE LENDER OWNED: 51, stable from 53.

AWC: 218, stable from 215

PENDING: 359, down from 375. This is a very important number as it is the lowest level of pending transactions since early April 2011. A summer “lull” usually occurs in the Maricopa Arizona market and this could be a sign that it is here. Both Patti and I have been experiencing a slight decrease in the number of buers leads/calls and our listings are not being shown by as many agents as in the past. That being said, our inventory of listings is at the lowest level of the year so this may not be a good indicator of buyer activity. Also, the recent heat wave has to be factored in as buyers and agents are adjusting to our summer weather and may not have been as motivated to look at homes the last couple of weeks. This is another number that I will watch VERY closely as it is directly related to to the number of closings that we will experience 30-45 days from now.

CLOSINGS: 62, up from 51. A very strong number once again. June should finish out on track with prior months.

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