Well, depending on what side of the table you are sitting on, this information can be viewed either way. For a short while, at least the previous 2 months, I have been telling my clients and customers that we were in what I believed to be a "balanced" market. The stats that the Arizona Regional Multiple Listing Services just released confirmed that my belief was right, but the speculation now, is that we are going to move into a "Buyers" market again - at least here in the metro Phoenix, area.
Some experts believe, and are touting, that 2014 is going to be the year that the real estate market corrects itself. I am not as optimistic. Not because I am a negative Nellie. It s because the employment stats, coupled with all of the new lending regulations are going to cause havoc in the market... at least initially.
The following stats are based on year-over-year "yoy" or month-over-month, "mom" stats for the years 2012 - 2013, and then January 2013-January 2014. You can call me with any questions you may have if you need to.
The "yoy" number of sales are -17.1% and "mom" -19.6%
New inventory "yoy" is up (this is good news for Buyers) +10.7% and "mom" +79.5%.
Sales prices are up "yoy" 17.8% and "mom" 16.5%.
With an average of 79 days on the market.
If you would like to find out how much your property is worth, go to www.gr8realest8.com.
If you are in the market to purchase commercial or residential properties in the metro Phoenix area, I am here to help - simply email me at maicalevnumber1realtor@gmail.com or call 602-334-3269. I am here to assist you with all of your real estate needs.
This blog is about seizing the day! Learning how, in every moment to seize the beauty and the magic that is all around us. Can you detect the beauty and the magic in your life? I look forward to sharing ways in which you can learn how to Seize the Day!
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