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Market ConditionThe market is changing everyday at a faster rate then ever before. Last year we were looking at total inventory of around 57,000 homes for sale in the Greater Phoenix Market. This year we are now around 52,023 homes for sale 33,000 homes represent homes that are active for sale, 13,585 pending and 5419 pending with some form of contingency (usually means short sale). What does that really mean? The market is returning to normal levels, if you were to exclude the short sales with no offers at this time which account for around 6,909 homes of the 33,000 we just about at normal levels. Some would say we are now at normal levels. What does all of this really mean to the average seller and buyer? To the seller price your home correct and it should sell with in 80 days and if you are a buyer you must present your best offers. As a buyer you should be fully qualified before you start looking. Please feel free to call if you would like to discuss the market in greater detail. |