They’re back and I think there is some interesting information to be gleaned from last month’s numbers. Phoenix real estate is definitely on the move, and we’ll talk about that in a bit, so without further adieu, here are the charts (click on any one of them for a larger version):
This is the Active, Sold and New Listings chart, and shows how those numbers reflect the amount of inventory on the market. The data here is mixed, but most of the signs are good: Inventory is up just a bit, but still hovering under 10 months. We would like to see it fall down to about 7 months, but it’s ok just as long as it doesn’t move too much further north of 10. Ok, that was the bad news; the good news is that active listings are down, new listings are down, and sold listings have remained steady.
The Price Change Trends chart is of particular importance to this market because it shows us something about recovery in terms of price. Prices have in fact been dropping, but this chart shows that the rate at which they have been falling is gradually flattening out into recovery. It analyzes price changes of active listings and shows that the trend is no longer in free-fall as I am reading in the papers, and as you’ll see in the next chart, prices may be making a rally.
The Sold Agent Days on Market Vs. Sold Price looks at sold properties and shows that, of those properties, 2 things are happening: Those prices are being driven up, and it is taking dramatically less time to sell them.
This Sold Agent Days on Market Vs. Units Sold chart is very similar to the previous chart however it has replaced sold price with units sold, and, as mentioned earlier, the sold units are down a bit. Notice the inverse relationship between the sold units line in this chart with the inventory bars in the very first chart.
Filed under: For Buyers, For Sellers, Real Estate Market Watch | Tagged: arizona premiere living, buyers, foreclosure, housing reports, inventory, moving to arizona, phoenix real estate, prices, sellers, short sale
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