Currently the Phoenix Housing Market is on the rebound with only a 3.2 month supply of homes currently offered for sale. But the media says; "there is a huge number of foreclosed homes on the market". Could it be that the media does not have the up to date information and don't forget doom and gloom makes for better ratings. For the last 3 months the Phoenix Housing Market has had a lower than 3.88 month supply. Take a look at the graph and chart provided by the Arizona Multiple Listing Service (ARMLS) It shows for the last 3 months March, April and May of 2011 the inventory has been under the 3.88 month supply. Keep in mind this does not take into account the homes listed under contract or (AWC) Active with Contingencies. (Homes under contract going through the inspection process) That would bring the monthly supply lower.
Also notice on the chart that the number of sold listings has been up the last three months. This is another strong indicator that the Phoenix Housing Market is on the rebound! Ask anyone looking to buy a home, the competition is heating up. If you are trying to buy a desirable home at fair market price, expect competition.
But Sellers please don't get greedy we are on the rebound not fully recovered, the housing bubble is fresh in everyone's mind and still a very painful experience. Remember a nice desirable home in good condition, "Priced Right" will sell. So price your home at a realistic price and your property will sell quickly.
.
If you have a friend or relative looking for a nice home in the Phoenix area, please give me a call. For more information about Phoenix Housing Market is on the rebound go to our website: www.Scottsdale-Homes-Online.com use our interactive map search to look for your next home in the Phoenix, Scottsdale, Paradise Valley, Cave Creek, or Carefree.
Comments(4)