Is the Housing Market Roller Coaster Ride Coming to an End in Phoenix?


 

The ARMLS monthly stats are in with some good news! The roller coaster ride of the last 4-5 years appears to be coming to an end. While he have seen a recent decrease in the number of closed sales in the last month, we are seeing a stabilization of the market. Inventory is steadily rising  and appreciation is staying steady with it. The Cromford Report for mid October shows an average price/sq foot of $121.32 which is 1.9% higher than the %119.05 measured for mid September. In Phoenix we have become somewhat accustomed to the extreme up and downs to the point where the stabilization of the real estate market is almost boring, but don’t let it alarm you, it could very well be good sign of security for our Valley Cities.

 

October Inventory


About the author

As a successful real estate investor and Realtor®, James Wehner’s focus is to assist buyers (investors, first time home-buyers, second home-buyers, relocation…etc) and help them find the best deal that matches their real estate needs.

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