The Phoenix real estate reports are in and the numbers are mixed. There are some positive signs, but this market is beginning to show signs of the stress that the financial markets have put on everyone and everything that they touch. On the one hand, the actual number of sales is down – after nearly seven months of month over month volume increase (August was slightly down) and this has the effect of increasing the market inventory from about 9 months up to about 10.5 months – but, on the other hand, we continue to watch the other market indicators that show that, as predicted last month, the leveling off in sold prices would begin to create a leveling phenomenon in the list price (yes, they are still down, but there is a discernable leveling phenomenon visible) which would suggest that there continues to be some stiffness in the bottom prices in the market. It’s still tough to determine yet how the volitility in the equity and financial markets will hit us (we’ll see that next month) but we remain quite busy and have confidence in the upside potential for this market. Without further adieu, here are the charts…
Filed under: For Buyers, For Sellers, Real Estate Market Watch, Real Estate Opinions | Tagged: arizona premiere living, buyers, foreclosure, housing reports, inventory, moving to arizona, phoenix real estate, prices, sellers, short sale
