The inventory of homes for sale at the end of a given month, divided by the average monthly Pending Sales from the last 12 months. Also known as absorption rate. The real estate activity compares the communities of Nogales, Rio Rico, Tubac, and the calculation for Santa Cruz County, Arizona derives from all communities to reflect an overall housing market trend for the area. The pending sales do not account for any out of pocket seller concessions for loan costs or home repairs that may have been negotiated during the sales transaction.
