It is a buyer’s market when: there is less than six month’s inventory of homes
available for sale. It is a seller’s market when there is more than six month’s inventory of homes for sale. However, six months is only a guide and not written in stone.
Every quarter the Arizona Association of Realtors publishes a “look–back” on the happenings in our real estate market. They divide information into categories such as price-range, how many sold, how many active, days on market AND month’s supply of inventory. For a look at our market, I thought my readers would enjoy seeing for themselves just what is going on in the real estate market for Phoenix and be better informed. Check out the “look-back” here!
Note: the most popular price range $101-$250, has only TWO month’s of inventory available even though there are over 8,000 listings. Not until you get into the higher price range does days on market take a hit. Be sure to notice just how much inventory there is in different price ranges.
By way of information, horse properties, acreage and irrigated properties are at a premium and sell quickly! Interest rates are at an all-time low, and there are wonderful opportunities to purchase a home at low, low prices – that said: prices are on the way up, so don’t wait too long!’
Be sure to give me a call at: 480.382-8711. I’d love to answer any questions you may have, or help you sell or find a home! Have a great 2012!
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