Our Market in Phoenix and the surrounding areas seems to be recovering slightly. For the most part our numbers have increased since last month. Our Active Listings are down, sales per month are up and days on market stayed about the same. These may not seem like huge numbers, but any movement up is heading in the right direction.
The Market Index is looking very good. The Cromford Report measures the market as such: If the number is below 100 then it is a Buyer's Market, if it is above 100 it is a Seller's Market. Since January the index has stayed above 100 which is showing that the market is switching toward a Seller's Market.
We hope to see prices appreciate slightly in the next 6 months. It appears we have moved out of the bottom and are starting to recover. Let's hope it is for real this time, unlike April 2009 when we hit our first bottom.