Maricopa Arizona Homes for Sale - Market Report 17OCT
Every week I analyze a number of key indicators in the Maricopa Arizona housing market and look for trends that can assist both home owners and buyers in this very volatile market. Although I haved lived in this comminity for over 10 years, I do not claim to have a "crystal ball" and many of my conclusions are based not only on the actual numbers but also on my experience in doing a high volume of sales exclusively in Maricopa AZ. If you would like a more in depth analysis of a particular home style or type, you can contact me at waz@wizardsofwaz.com or visit my website at www.wizardsofwaz.com
As this week's Maricopa Arizona Homes for Sale - Market Report 17OCT shoes, the inventory of subdivision homes for sale in Maricopa AZ continues to spiral upward, now at 413 at this writing. The last time that inventory was this high was in April of 2011 and it was in a rapid decline from around 1,000 homes! Since the number of available foreclosures and short has remained relatively stable, the main contributing factor is the purchasing and flipping of Trustee Sale homes by investors coupled with a large decrease in the number of interested buyers.
Although homes for sale in Maricopa AZ receives a lot of interest from locals, much of the market is driven by seasonal residents/buyers and those looking to retire to this area. The "migration" of these buyers begins in the middle of October (it is happening right now) and peaks right after the first of every new year. It remains to be seen what impact they will have on home values in the long and short term so be sure to check back. My feeling is that values have plateaued and will remain relatively stable over the next six months.
This is one of those rare occasions where it is both a Buyers and Sellers market!
Read the full report on my weekly website blog:Maricopa Arizona Homes for Sale – Market Report 10OCT12
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