Residential Housing Vacancies in the Phoenix Metro

This table succinctly explains the total number of homes that exist within the city/area, the number currently vacant, and the the percentage vacant. There is no percentage (%) of accuracy or error provided with these statistics, however at the end of 2010 there were approximately 91,000 vacant homes in the Phoenix metro area.

Why Such High Vacancy Rates in Arizona?

Source: U.S. Department of Housing and U.S. Postal Service

Shadow Inventory?

This information provides us with some type of an idea that there are quite a few homes that are just plain vacant. I don’t want to continue the “Urban Myth” that there is a lot of shadow inventory out there, however when you see the numbers from these two federal agencies this clearly illustrates my point that the supply is artificially low right now on the MLS and at trustee sale as well.

Your Thoughts

So what gives, what’s the scoop, don’t see much of this in the local news media? Why only 21,000 active home listings on the MLS when there are over 91,000 vacant homes in the Greater Phoenix metro area?

Would love to hear your thoughts on this, anybody with a good idea on when the inventory levels will go back up on the MLS?

Related Article: Where Have All The Properties Gone?

Related posts:

1. Where is the Phoenix Housing Market Headed?
2. Pending Home Sales In March