According to the Cromford Report on January 31 –“The S&P/Case-Shiller® Home Price Index was published today covering sales during the three month period September through November 2011; As we predicted last month, the index for Phoenix was up. In fact it was, once again, the only one of 20 cities that showed increased pricing over the previous month. We anticipate at least another two months of increases in this index when it is reported in February and March.
Next, to give you some current statistics on where we’re at with home sales:
According to the Cromford Associates, LLC, as of Feb 1, 2012 from Arizona Regional Multiple Listing Service (Maricopa County):
There were 24,762 Active Residential Listings- Same time last year we had 42,522
Of these Active Residential listings:
1,818 were Lender Owned- (7%) - same time last year: 8,258 (20%)
8,787 were Pre-Foreclosure/Short Sales (35%)- same time last year: 15,999 (38%)
13,093 were Normal Listings (53%) – same time last year 17,015 (40%)
There were 10,611 transactions pending- same time last year 10,565
There are LESS than 4 months of residential inventory currently on the market, whereas last year at this time we had over 6 months of residential inventory for sale.
Inventory of homes for sale in some price ranges is still EXTREMELY LOW!! Sometimes homes are even selling for MORE THAN the list price. If you or someone you know is interested in selling or buying or simply finding out more- it would be my pleasure to help.
As a licensed REALTOR I have access to the most up to date information available- and can find data specific to your neighborhood or for your particular area of interest. Just let me know if you have questions and remember….
Real Estate is my FULL TIME career. We have seen lots of changes and some turbulent times in recent years- but as you can see, good news appears to be on the horizon and the opportunities for investing in real estate are still endless. I can help you navigate through the sea of information to find answers and help you make your best real estate investment decisions.