Lots of good information is provided to Phoenix area Realtors via STAT (a publication from our MLS – Arizona Multiple Listing Service).  The March 7th issue shows:

• The number of home sales in February 2013 is down 8.6% from February, 2012.  This coincides with over all housing inventory being reduced from this time last year.
• Total housing inventory is down 8.5% from this time last year. This report includes active listings and UCB listings (under contract, not yet pending).  In my mind, a truer number is the Actives only (truly available, no contract for purchase in place).  Today, this number has moved under 17,000.  At the moment, 16,922.
• Months of inventory is riding at just over 3 months.  While this figure varies by price range and area, it’s a key number when you plan to sell.  If there are 6 months of inventory for your profile of home in your community, and you want to effect a sale in a relatively short time frame, over pricing it may cause your house to sit on market for 6 months or more.  When can you be more aggressive?  When there are fewer than 3 months of inventory!
• New listing prices  in  February 2013 versus February 2012: up about 23.4% for the median list, and up about 22% for the average list price.
• Phoenix housing sale prices in February are up, also, from February 2012:  The median is up 23%, and the average sale price is up about 20%.
• The PPI, or Pending Price Index is a metric ARMLS uses to predict where Phoenix area sales prices for the next month will be.  Using pending residial sales numbers, ARMLS predicts the March median sales price will be $163,000, and the average March sales price will be $214,600.