Last year we saw a nice recovery here in Maricopa County. Here are some local numbers over the past 16 months.
ACTIVE LISTINGS (Inventory/Supply) PENDING SALES (Buyers/Demand)
5/28/2012 12,801 20,312
————— ONE YEAR LATER & FOUR (4) MONTHS AGO ——————–
5/28/2013 15,623 15,180
————- 30 DAYS AGO ———————
8/28/2013 17,817 11,377
———- FOUR DAYS AGO —————
9/28/2013 20,413 9,914
Do you see a trend, or TWO? Supply INCREASED by 14.6% in the past 30 days (bottom left two red numbers)! We have 62% MORE homes, for the 51% FEWER buyers to pick from, over the past 16 months, Yet the media continues with a narrative (that’s a year old), that there “are no homes for buyers to pick from”.
These are directly out of our Multiple Listing Service (MLS). Public information that (most) anyone can get.
Interest rates are coming DOWN! It’s not likely to have an immediate impact. And the rates may need to fully recover/return to the sub 3.5% rates that we had last year, through April of this year. Current rates are at 4.375%.
Call us today with any questions @ 480-240-9724 ext. 1
Leave a Reply