photo credit to MiamiAmia, via StockExchange
This week, I added color to indicate the direction of the trend. Red shows the numbers moving in the "wrong" direction, while green shows numbers that are moving in the "right" direction. At this point in the Valley of the Sun's housing correction right means less homes for sale and more homes selling.
Our main obstacle right now is we have too many homes for sale and not enough buyers. Remember your high school Economics 101 class? Too much supply and not enough demand means prices go down.
What changed? Who knows. It could be as simple as the weather was a little nicer this week. Not quite so oven-hot and maybe people went out to enjoy outdoorsy activities instead of buying real estate. Or maybe a lot of Realtors were in the office tinkering with our new MLS software instead of out signing deals. It could be anything. I'm not too concerned, since the general trend since last fall has been slow & sure in the right direction. Check back next Sunday to see what's selling (or not) in your ZIP code.
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