It’s very much a seller’s market in the more affordable price ranges in Phoenix. Homes are flying off the shelf, and it’s difficult for home buyers with financing to compete with those paying cash.
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Phoenix market report
The Cromford Report™ just published the latest Monthly Market Review for Single Family Homes, which give some hopeful news about Greater Phoenix real estate. Market Headlines The market is very strong below $100,000 and in good shape up to $200,000. Above $200,000 the market continues to deteriorate slightly. Average sales price per sq. ft. is [...]
Hard to believe that here in Phoenix, buyers and their Realtors are feeling like there’s a housing shortage. Home buyers are frustrated, because they are making offer after offer, with no success. Investors are grumping that they can’t buy a foreclosure or a fix-up, when they are competing against each other for the dwindling supply of homes. Multiple [...]
Because Mike Orr covers the ins and outs of Phoenix metropolitan real estate statistics so thoroughly, I will share his July 17th report in total: Each month about this time we look back at the previous month and analyze how pricing has behaved and report on how well our forecasting techniques performed. We also give [...]
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 [...]
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 [...]
These charts tell a story, at least from the perspective of the number of homes selling in the City of Phoenix. 2005 was a record year for real estate sales. Sales dropped off in 2006 (red line). But that was only the beginning. In 2007 (purple line), sales continued to drop, significantly. 2008 (olive [...]
