Metro Phoenix Market Trend - Sales by Month -August/September 2012
It has always been thought of as a good indicator that the sales of properties by month will determine a lot about a specific area. This report is indicative of the homes sold per month in the Greater Metro Phoenix area - and it shows that we are still maintaining improvements in the market. As there is still a lot of recuperating to do in the Real Estate Market, this report shows that Metro Phoenix is working to improve monthly.
For the month of August, 2012, Metro Phoenix ended the month with a noteworthy 5,673 homes sold overall. Not an improvement from last year, however a respectable number from years previous. If you look at Metro Phoenix over the last 10 years, there was a steady increase in the sale of homes in the months of August and September in 2001 through 2004. Then, a decrease in the number of properties in Metro Phoenix that sold during the years 2005 and 2006. Obviously, when the market was HOT in the early- and mid-2000's, the number of homes being purchase or refinanced skyrocketed. Then, the Real Estate market crashed in 2007 and 2008 and the Metro Phoenix market took a HUGE hit. As the time has gone by, you will notice that even with the slight increase each year (with a few dips), the market has come to the point where the difference from then and now is significant.
This is just an indicator that the market is stabilizing - we will see even more improvements in the months to come. Although, September 2012 in the Phoenix Metro area looks to have gotten off to a slow start, property sales are on the rise. This chart does not show properties that are in the process of being sold - and with the short-sale market so active right now, there are still a lot of homes that are being sold. Anyone who understands the short-sale process understands that process takes longer than a regular sale, so they are not always represented properly in reports of this sort.
The GOOD NEWS in all of this - the Phoenix real estate market is stabilizing! We understand that different people have different needs. If you are having a difficult time in your current home and are considering selling to downsize - or, maybe your family has outgrown the home that you are in now, whatever your situation is - it's a GREAT time to review your options and come up with a smart and creative solution - Call and set up a time with me to receive a FREE property analysis report for your Metro Phoenix home!
Metro Phoenix Market Trend - Sales by Month -August/September 2012
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