Valleywide, all dwellings
Under Contract in the Last 30 Days: 4,874 (9% of actives)
Valleywide, single family dwellings
Under Contract in the Last 30 Days: 4,197 (9% of actives)
Valleywide, luxury homes
Under Contract in the Last 30 Days: 143 (4% of actives)
East Valley, all dwellings
Under Contract in the Last 30 Days: 1,911 (10% of actives)
Interesting but encouraging data to report again this week. Total Phoenix housing inventory continues to rise, along with the number of valleywide homes under contract. Clearly, homes are selling, and in greater numbers than all of 2008 and most of 2007. Buyers are back!! Yet, the number of active listings has continued to rise since the beginning of 2007. Sellers must’ve gotten the hint that “the buyers are back” and still have confidence in Phoenix real estate market. As long as sellers are listing at realistic 2008 prices, then the increased inventory can be seen as a good thing too…for buyers. Buyers want plenty of choices and affordable mortage rates and that’s just what they can get right now! If you’re following market activity and have read our most recent posts, you know that this is true. If all you read are foreclosure reports and articles about the glory days of 2005, then you might miss out on this tremendous opportunity!
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