New statistics just out report that Phoenix, Arizona area home sales in MARCH hit 9926. That is a 66 month record and a 38% increase from Februaury closings. Might one of the worst hit areas in the housing crisis finally be recovering?
I sure feel it. I took several buyers out in February and March and was disappointed at being outbid on properties (sometimes by 5-8 other offers). And my auction flip listings are receiving multiple offers as well. It seems the "good" houses are hard to come by. Buyers seem to be getting fed up with pursuing long drawn out short sales and those "TLC needed" bank owned homes. Our fixed up like new homes are a refreshing alternative.
1908 of those March sales were short sales and 4257 were banked owned. That leaves only 3761 regular sales. We are still far from a "normal or healthy" market.
Although I am cautious to determine one really great month of record sales numbers is a sign of total recovery I will say........ at the very least we are having a great Spring run.