Joseph Lee commented on a post I wrote two weeks ago, Why is Real Estate Inventory Down...Sales!, that I thought was worth sharing further. He wrote:
"Not all cities are created equal:
This is just MLS and does not include Trustee sales,
Auctions or FISBOS.
Phoenix MLS had 25,773 in 2004 and 26,615 in 2005."
As I understand them, his numbers essentially show sales (actual closed real estate transactions) for the two periods of 1/1/08 to 12/17/08 amd 1/1/09 to 12/17/09 for the various areas.
I don't know Joseph but I love that he took the time to share some statistics. Now, we all know that stats can be manipulated however the gatherer wants. And I'm sure some of our readers questioned the stats that I shared in the blog post. And of course some of you will question Joseph's numbers as well. Nonetheless, I'm happy to see that at least one other person has numbers that are reasonably close to mine. You'll note that his 2009 sales in Phoenix are really close to the sales numbers in 204 and 2005 just as my data suggested.
Whether my numbers are 100% spot on or not, I'm telling you that sales are happening here in Phoenix (yes, many many of them are foreclosures) and we believe that more are to come in 2010. Now if only FHA, Fannie and Freddie would loosen up underwriting guidelines a bit we might see a real recovery.