In a Buyer's Market

These days with so many foreclosed and lender-owned homes for sale in the market, buyers now have more time to make a decision on available homes. In Arizona, the average number of days an Arizona condominium is on sale in the market is around 96 days, according to the Arizona Multiple Listing Service for the month of February. This shows an increase from 54 days in February of 2007. There have also been a record number of homeowners trying to sell their homes in today's slowed market.

In Arizona alone there are more than 50,000 homes and Arizona condos, of which about 95 percent are in Metro-Phoenix, that were listed in March according to preliminary figures from the Arizona Regional Multiple Listing Service. The market analysts say that a healthy market typically carries about half that number.