Phoenix Home Sales per Month Shows Improvements in Disguise April 2014
Sales per Month is a uniquely indicative factor in determining the “state” of the Real Estate market – as it gives a straight-forward look at the facts. What was sold for the month is the real question that is answered with this indicator. More specifically, this chart shows the differences between the different types of sales transactions in the Valley of the Sun.
An overall review of the Sales per Month through the first Quarter of 2014 shows that there were not as many homes that sold in 2014 as just 2 years previous in the same time period. This brings up an interesting point – in the previous posts, we have been indicating that the Real Estate market in Metro Phoenix area has shown significant improvements – but, this chart is actually indicating that we are selling less homes than we have in our previous years. How can this be improvement?
Great question (we’re glad you asked). In review of the chart below, Sales per Month are broken down into the different types of sales transactions that occurred in the Valley of the Sun for the previous 2-year period. In 2012, there were more homes that sold overall – however, a major point in that particular time is that there were a lot of Short-sale transactions that were still occurring (1,624 homes in January 2012 alone were sold as Short-sale transactions – as, there were still people coming in from the wave of the economic change, so to speak). In January 2014, there were 300 homes that were sold as Short-sale transactions – that is more than a 500% improvement over the previous 2-year window. Even though there were not as many homes that sold in the Metro Phoenix area, some of those homes that did sell did so as HUD and REO transaction types – however, a majority of the homes were sold as Normal transactions.
Metro Phoenix Homes Sales per Month as of mid-April 2014
We see the same type of results for February and March 2014 Sales per Month versus their 2012 counterparts. A significant sign as to why the Metro Phoenix area is experiencing the growth and recovery period that we have. There are a lot of different areas that are expanding and growing, as well – which promotes employment growth and commerce in the little cities within the Metro Phoenix area. As the little areas continue to grow and support more commerce, so does the Valley of the Sun as a whole.
This growth and commerce is an appealing quality to visitors and business people who come to our state – which translates to more people moving to the Valley of the Sun and, possibly opening a business or transferring with a company, which in turn, stimulates home sales in the Metro Phoenix area which motivates more growth and commerce within the city, and the cycle continues. What a great reminder of the wonderful metropolitan in which we call home. There is so much to do in Metro Phoenix and, with such terrific weather a majority of the year – it just makes our home a destination for others!
Phoenix Home Sales per Month Shows Improvements in Disguise April 2014
Orginally posted on Phoenix Property Shoppe
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