Typically, real estate traffic in Phoenix is very slow last quarter, particularly the last two weeks.  Fortunately, I'm happy to report that traffic was surprisingly good for us the last two weeks of 2007 and picked up considerably during the first week of 2008.  This of course is a good sign.  We hope that this is an indication that buyers in Phoenix are finally shedding some of the fear that they have been shouldering for the last two and a half years and feeling good about buying again.  I actually got an e-mail from a prospective buyer last week who stated that although she really doesn't want to buy right now she feels she has to because she believes that prices are about to go up.

Now, this is just one person's opinion but it's the first such opinion I have heard in over two years.  I hope that this is not an isolated opinion but rather indicative of many buyer's sentiments.  As NAR has stated, this real estate slow down is not dampened by a bad economy (as our economy is still relatively good) but rather dampened by buyer trepidation.

If buyers begin to feel that we have hit the bottom (frankly, I don't know how anyone can know that one way or the other) then we will see some of our surplus inventory begin to disappear; in a good way :-).

Is anyone else seeing what we're seeing?  That is increased traffic and more optimistic buyers.  PLEASE share some good news!!!