The Phoenix real estate reports are in and this is what we find when we crack them open: There were no drastic changes in our market last month and although sales are down slightly from the previous month and inventory levels have risen for the last 2 consecutive months, there are no alarming signals, and in light of the news in the financial markets, I would say that things could be a heck of a lot worse. Other than those 2 items, we see 3 general trends: The fall in home prices seems to have moderated a bit over the last 2 months as we’ve pointed out; the time it takes to sell a home on the average has fallen; and the other model we’ve been watching, the Price Change Trends model, continues to show that the amount that one has to reduce the price of one’s home in order to sell it continues to shrink. Here are the numbers, and click on the charts to expand them in a new window.
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
