My seller's are constantly wondering why the showings have slowed down or why there aren't any showings period. In July, there was a 10% drop in home sales which followed a 5% drop in June.
We currently have 47,391 listings on the market which is about 8% higher than last year!! WOW! My view of that is that our market is basically still holding steady. At the beginning of the year, there were about 46,000 which is not that large of a change. I recently heard that the Phoenix market went from about 3400 listings in Jan '05 to about 46,000 in June of '06. Now THAT is a big change in market conditions. I don't know what I would do if our market flipped like that.
All I can say is that my business is still fairly stable, and the only difference is that the listings are taking a little longer to sell.
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