Monday, June 16, 2008

Anecdotal evidence suggests market is healing

The Phoenix area real estate market is heating up (unofficially).  I haven't analyzed statistics to back up my claims, but I do have some anecdotal evidence - our group has put 6 listings into escrow in the last 3-4 weeks!  We also have several buyers with offers outstanding, waiting for sellers &/or banks to respond.

However, I'm not ready to claim that our market has recovered.  Most of our activity is focused on properties which are on the "more affordable" end of the spectrum.  Activity for buyers and sellers in the half-million dollar plus ranges is still slower than we'd like to see.

I've written several times before that our market is going to recover differently for different neighborhoods and different price ranges.  I think what we're seeing today is more proof of this.  Any positive news is a step in the right direction, but we're still a ways away from being recovered..

Your looking for silver linings Realtor,

Chris Butterworth