Expired listings EXPLODE but why?

An expired listing is a property that was listed for sale but did not sell within the specified time frame. The listing period for a property is typically set by the seller or their real estate agent, and can range from a few weeks to several months. If the property does not sell before the listing period expires, the listing is considered "expired" and is typically removed from the market. The seller may choose to relist the property for sale, either with the same real estate agent or with a different one, or they may choose to take the property off the market entirely.
In the Phoenix real estate market this number spiked the last day of the year.

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