Here is the 4-6-14 Cromford Real Estate Report by Jim Miner in South Scottsdale AZ which is prepared by Michael Orr at Arizona State University. This week the report is showing a real estate market trend that is starting to unfold. Over the course of the last week to week and a half the demand for housing is starting to edge upwards. This is the trend that we want to see move higher if we want to see a more balanced real estate market here in South Scottsdale and the rest of the greater Phoenix area. As you will see in the video a perfect balance would be the baseline of 100 for both the supply and demand, right now that balance does not exist. The supply has risen to the point of normality and this is very indicative of this time of the year. What we are not seeing is the demand sector in sync with this time of the year and that is why I keep bringing it to your attention.
The translation is the same narrative, it is a buyer's market. So if you are a buyer; ask for some concessions and be aggressive on your offering price (if the home is not priced properly), and if you are a seller don't try and get the prices that were had last summer just price at the market and you will get some good offers. Here in South Scottsdale I work with both buyers and sellers and they have come to understand and fully appreciate the information contained in the rest of the Cromford Report as it is extremely helpful in arriving at the best price.