A quick overview of key real estate indicators shows that overall 2011 was definitely a step in the right direction for Phoenix metro real estate. Total sales exceeded 100,000 transactions up, exceeding our last “normal” years in 2002, 2003, and 2004. Total new listings of 121,041 also approached the pre-boom years. Months supply of inventory [...]
From the category archives:
Phoenix Metro
Look at this chart for a striking view of the amazing free fall of total home inventory in Phoenix during 2011. The heavier line shows that from a high of 42,881 in January to a low of 24, 712 in December, housing inventory has dropped over 40%. No wonder buyers are saying things like, “I [...]
What a way to start the year on a positive note! Here’s the latest Phoenix real estate market update from the Cromford Report: Except above $800,000, sales prices in $/SF are now higher than a year ago. Inventory is falling again for all price ranges. Above $400,000 demand remains relatively weak. Lender-owned inventory is still [...]
Funny how fast prices can change. Realtors in the Phoenix and Scottsdale areas have been predicting price increases for at least the last six months. And look what we find today: 10 Cities Where List Prices Soared Last Month Number 2 on the list is the Phoenix-Mesa MSA (Metropolitan Statistical Area), of which Scottsdale plays [...]
The November Cromford Report Monthly Market Review started off with the following summary for the Phoenix real estate market for single family housing: In every price range, sales prices in $/SF are now higher than a year ago. Inventory is still falling below $200,000 and constraining sales volumes. Above $200,000, supply is rising and demand remains [...]
From Michael Orr at the Cromford Report, and courtesy of Allison Hudgins at Old Republic Title Agency, here is the latest update for single family homes, by price range, for the Greater Phoenix real estate market. Market Headlines A big contrast exists between the market under $200,000 and the market above that figure Enthusiastic buying [...]
Old Republic Title Company hosted a big event yesterday, where Mike Orr of the Cromford Report gave a presentation. I’d planned attend the event until a Canadian buyer asked me to write a contract right before they headed home. Good news is that, my wonderful contacts at ORTC, emailed me the presentation last night. The [...]
