Sunday, July 20, 2008

Statistics On Sundays, July 20, 2008

photo credit to MiamiAmia,  via StockExchange

A continuing weekly look at For Sale, Pending and Sold statistics by ZIP code (for the ZIPs in which I primarily work which includes 85020, 85022, 85024, 85028, 85032, and 85050). Check back on Sundays for a drill-down look into the numbers in your ZIP code. Have a North Phoenix area ZIP that doesn't show up here? Email or call me and I'll add it for you.

This week shows continued slow & steady improvement over last week. The PENDING numbers in every ZIP code covered are up, which is a great sign. The numbers of SOLD homes are up in all but 1 ZIP code, also a great sign.

However, we're still nowhere near normal for most ZIPs. Most forecasters & Realtors agree that a 6 months supply of inventory is about "normal". It's interesting to note that 85024 is very close to that ideal. Sellers in 85024 - don't despair! You're near the bottom. Buyers wanting to get into 85024 - hurry up, it might not be a buyer's market there for much longer.

Want to receive these updates by email? Send me an email with “Sunday Stats” in the subject line. No email spam and I do not sell, rent, share or trade your email address to anyone. Ever.