The media talks about the hot Phoenix real estate market, yet most home sellers I meet are still operating from a perspective that no one is buying homes these day, because the market is so bad! However, any home buyer will tell you, it’s a battle out there. Multiple offers are common in the lower [...]
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buyer’s market
If you planning to purchase a home before the $8,000 tax credit deadline hits, or you’ve had your eye on the luxury market, you need to know where you stand as you craft your offer to purchase real estate in Scottsdale, or any of the surrounding cities. If you are looking for a home priced under [...]
The generally accepted definitions of a buyer’s or seller’s market in real estate: More than 7 months of inventory (listed homes for sale) is a buyers’ market. Five to seven months is a balanced market. Five months or less is a seller’s market. From the looks of this chart (data courtesy of the Arizona Regional MLS), we [...]
So, is the market coming? Or going? I ran the First Responder Run to help the Arizona Autism Support yesterday, planning to run a 5K. Turns out that the 5K and 10K routes shared the same path and I missed the turnaround. Oops! As time progressed, I realized my mistake and decided to flip around, [...]
Scottsdale single family homes have been selling faster than new homes were listed for the past three months. We are beginning to see the increased activity that typically comes in the fall season, too. More homes are being listed, yet they are selling at a higher rate than they are coming onto the market. The [...]
Market Action is a proprietary Altos Research statistic that tracks where the market. Tilted to the buyer or the seller. Index under 30 indicated a buyer’s market. From the chart for single family home activity, it’s easy to see that we have been stagnated in a buyer’s market for over a year, and that since [...]
I keep a running spreadsheet of some specific Maricopa County MLS stats, and today I was comparing January 4th, 2007 with today. It’s a different picture, that’s for sure. Date Active Listings Vacant Contracted Listings 1-4-2007 36,425 17,219 4,969 1-4-2008 45,653 22,884 3,233 From this data, I’ve calculated that: The number of homes for sale [...]
