As of December 2009 active inventory was 40,183, a 27% decrease from December 2008. There were 7733 closings in December 2009, a significant increase of 37% from December 2008. Months of Inventory was 5.2, down from 9.8 in December 2008.

Median price of sold homes was $126,500 for the month of December 2009, down 12% from December 2008.

The Phoenix Metro area is experiencing an increase in buyer activity, with new properties under contract up 67% from December 2008.

Get the complete Phoenix Housing Report for January 2010