In the mid-week 5-8-14 Real Estate Trend Report by Jim Miner in South Scottsdale shows charts of pending sales over the course of the past several years. Three major cities in the valley of the sun are shown; Glendale in the west valley, Phoenix in the central valley, and Mesa in the east valley.
The significance of pending sales is it shows the strength potential of the short term real estate market trend. Generally speaking, the first part of the year will show a building of strength in the market which then peaks in May or June and thereafter has a downward bias into the end of the year.
Some of the major news outlets keep talking about how the real estate market is continuing to strengthen and the housing recovery is well underway. One must remember that different parts of the country are in the midst of trends that are moving in opposite directions. As well, as here in the Greater Phoenix Area some of the city's trends are vastly different, even within a city it can be different as an example South Scottsdale vs. North Scottsdale.
Because each city and often times each district are on trend courses which are different, it makes it even more important to use the technical tools based on empirical evidence to aid one in the formulation of a purchase offer price or a listing for sale price.
I have a number of clients in South Scottsdale that are now starting to use and understand these tools and it has placed them at an advantage in the real estate marketplace. This is just another way technology is helping us to assess the market. Watch the 5-8-14 Real Estate Trend Report by Jim Miner in South Scottsdale and enhance your knowledge of the market trend.
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