43,000 plus on the MLS the last time I checked.I also read that an estimated 14,000 of these homes are vacant.Also,there are a ton of foreclosures in Maricopa County.Can you make money in this market?Yes.However,one must purchase a house well below market value(60 % or less) in order to make any dough.
Let’s not forget both PHX and SAN are not exactly high wage meccas.Quite the contrary.The average Phoenician is every bit as leveraged as our own San Diegans.I believe PHX,SoCAL, NoCal,and Las Vegas will all drop considerably(maybe 40-50% ?)
BTW,for all of those folks who are considering moving to PHX or LAS it is about 110 degrees right now.
Good luck for your friends…It may work out for them……or it may not.Time will tell.
