ALL PHOENIX REAL ESTATE

Posted on May 28th, 2007 by Jonathan Dalton

Many real estate markets experience a spring thaw. Rising temperatures and sunny days lead those in many climes to emerge from their winter caves to search for their next home.

While the reasons are a little different here in the Phoenix area – temperatures begin to rise in early March, for example – the spring bump in the market occurs here as well. The primary driver is the school schedule. As the school year winds down, many people begin looking at moves they may want to make. Children’s school year won’t be interrupted by a summer move, and they’ll be re-registered and ready to go when the new year begins.

Except … that hasn’t happened this year. In fact, sales over the past 30 days are at roughly the same levels they reached during the winter holidays. And the lower sales are coming at a time when inventory has continued to increase – a net rise of another 400 single-family homes in Maricopa County this past week.

What today’s market calls for is a healthy dose of reality. The notion of “let’s try to sell” at a higher price will not accomplish anything as only the absolutely best-priced homes are gaining notice. Regardless of what market averages may indicate, if there are similar homes on the market at lower prices, this is where sellers need to be. It’s really pretty simple.

Data provided by ARMLS. Data deemed reliable but not guaranteed

Technorati tags: phoenix arizona, phoenix arizona real estate, real estate, market statistics, absorption rate

Categories: General Real Estate, Phoenix Inventory, Phoenix Market, Tips for Buyers, Tips for Sellers