Phoenix Home Sales

Phoenix area (Metropolitan Phoenix) home sales through the end of November totalled 85,651 and I’m projecting that by year-end, we’ll have a total for the year of approximately 93,000. The highest homes sales in recent years were 2004 at 98,922 and then 2005 at 104,725 so we’re close to those levels in sales. Obviously, what’s driving sales is the rock bottom prices but my feeling is this has allowed more people the opportunity at home ownership than when prices had peaked in 2005/2006. Yes, credit is harder to come by and lenders have swung the pendulum 180 degrees from the peak years, but my feeling is this is a good and necessary correction and needed if we’re ever to recover from the current situation we’re in. Things do slow down towards the end of the year and peak buying time is during spring, but all in all, buyers are buying and sellers are trying to hold out unless they absolutely need to move due to life changing events.  New Listings for 2009 will no doubt be less than last year’s total of 162,181 total new listings.  To date we are currently at 136,786 so we’ll see where that number ends up after the month of December.  If you’re thinking of making a move, please give me a call!

Home Sales Per Month thru Nov 2009

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