This is the June update I promised a couple days ago. April 2009 – Seller’s market (<5 months inventory) exists below $175K. Buyer’s market (>7 months supply of homes) starts at $275K. May 2009 – Seller’s market exists below $225K. Buyer’s market starts at $350K. June 2009 – Seller’s market exists below $350K. [...]
From the monthly archives:
June 2009
Record home sales have been reported over the past several months, and equally dramatic price depreciation, but Scottsdale has not been experiencing the same real estate market. In 2005, home prices, based on a per square foot basis, increased significantly, jumping from about $215/sf to $285/sf in one year. A 32% increase. In 2006, average [...]
Over the past five years, investors have accounted for more than 10% of the home sales in: Tempe Carefree Phoenix El Mirage Tonapah Glendale Scottsdale Avondale Paradise Valley Apache Junction Mesa Fountain Hills Surprised?
Several days ago, I wrote about the much publicized wave of foreclosures that has yet to materialize, Is the REO bubble over in Phoenix?. Later that day, I read Mortgage delinquencies hit record high. We live in a time of uncertainty, and consternation. I’ve spent the past couple of days mulling over the differences between [...]
Yes, the number of homes for sale in the Phoenix Metro market is dropping, and this inventory reduction is creeping into the higher price ranges, but Scottsdale has yet to see the surge and record setting sales that most of the rest of the valley have been experiencing. Over at Click2AZ.com, I recently wrote A [...]
Yesterday, I shared a year by year sales history for the City of Phoenix, showing a record number of home sales, by month, in 2009. Today, I’ll go through the same exercise, showing the dramatic changes over the past four plus years. The year 2005 showed some phenomenal changes in the average price per square [...]
Yes, the number of homes for sale in the Phoenix Metro market is dropping, and this inventory reduction is creeping into the higher price ranges. As of April 5th, homes priced in the range of $175,000 were clearly in the seller’s market range, which is typically defined as 5 months or less of inventory. Homes [...]
