Truth be told, I have another topic in mind. But the title seems to remind me that this is a real estate blog, so let's talk about real estate and I'll get to the other topic in a couple of days.
In the category of "it's easier to predict the weather in Colorado Springs", inventory here in the Phoenix real estate market has tailed off, and not just because of the inevitable expiration of listings on the final day of the month.
Yesterday, there was a hair over 16,000 detached homes for sale … [Read More...]
Much as you shouldn't be surprised of the result if you decide to wear a meat suit into the shark tank at Sea World, you also shouldn't be surprised at the responses that come in when you ask a question on an open forum like Trulia Voices.
For every agent out there who honestly wants to help and provide some guidance, there are a dozen others whose every answer drips with the scent of "for the love of God, hire me as your agent ... please, please, please, please."
That link above is a … [Read More...]
Real estate, no matter how you look at things, tends to be more art than science.
It's easy to try and draw conclusions based on what we can see in the market, such as the fact there are 16,214 detached homes for sale in Maricopa County where early in the summer there were roughly 9,000. Rising inventory only can mean prices will fall. That's what we've learned from the theory of supply and demand.
Except it's not really that simple. So many factors, both internal to the industry and … [Read More...]
Here's where things stand at the moment ...
Right now, there are 15,986 single family detached homes for sale in Maricopa County. That's an increase of roughly 77 percent off of this year's lows.
That's a huge jump and it doesn't bode well for those looking to sell as there's far more competition now than there was even three months ago.
In October, there were 4,544 closed sales of detached homes as recorded in the Arizona Regional MLS (all data deemed reliable but not guaranteed, your … [Read More...]