Our Phoenix Metro real estate markets have been much more vibrant than most of the rest of world has realized. Ask anyone currently looking to purchase home listed at under $250,000.
The chart above shows just small the supply is for homes in the lower price ranges. Less than 3 months supply in many cases.
Competition for home entry-level, move-up, and 2nd homes is fierce. Short sales are even getting multiple offers.
Buyers have to be ready to move when they find a house they want to buy in today’s market.
To see how much has change in less than a year, look at the difference between now and August 2010.
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Brilliant comparison, Dru! Sometimes we need these graphs to help us grasp just how much has changed in a year when most people still think our market was getting worse.
Joshua, You are welcome. I think it’s a positive change that more people need to know about.