not see that this really IS significant...
why are pending sales greater now than in 2005
This first chart is stunning.
Pending sales are, now, higher than during the peak years...!!!
True, prices are depressed buy 50 to 60 %
but, there ARE buyers and there ARE sellers.
True, there has been a massive shift from low priced foreclosures
towards short sales for mid & higher priced homes.
But, the RE market is VERY active.
If you can sell you current home for the best price you can get...
and then buy the best home you can find at the best price you can get...
you CAN make a LOT of money.
===============
Phoenix Real Estate Pending Sales Near Record Levels
Over 14,000 homes are under contract and awaiting to close,
a number surpassed only one month ago at 15,131.
Pending home sales are a very good indicator of what's coming in the near future: pending sales are contracts in escrow that are not yet closed. Just about a month ago the Phoenix market hit a peak of pending residential sales at 15,131. That was right before the tax credit deadline.
Even now, nearing the end of My we are near record levels for Pending numbers, well over 14,000. This is much higher then ever and certainly more then the span of the chart above which begins in 2001.
What you need to know is that the market is very active and any good inventory is moving quite fast into new hands leaving a steady 4-5 month supply of active properties: rather balanced. If there is a nice home that matches your needs and want plus it's priced properly then don't wait to put in an offer as it is likely that soon someone else will.
This time of year and for about another month is the busiest each year: the seasonal peak.
============
ARMLS stands for Arizona Regional Multiple Listing Service.
CHARTS AVAILABLE:
View the number of Residential (Class 1) listings added monthly or view sales activity charted by Average List/Sales Price and Median List/Sales Price. These charts cover years 2001 - 2009.
===========
No comments:
Post a Comment