It depends on what numbers you care to look at. According to the ARMLS and the Cromford Report, the number of homes sold in metro Phoenix has increased by 40% from 2007 to 2009. In 2007, there were 4,358 homes sold versus 8,007 in 2009.
Again, we can point to the foreclosure market for skewing this upswing - but the point is that homes are selling in an abundance from just 2 years ago.
The other point is that from 2007 to 2009, homes prices in metro Phoenix have fallen by 48.6%. Again, this is according the ARMLS & the Cromford Report. Median sales price in metro Phoenix in 2007: $245,000. Median sales price in metro Phoenix in 2009: $126,000.
Now, depending on what side of the coin you are on, these numbers mean different things. Are you a seller or buyer? Well, if you answered "seller" - not all is lost, but you may want to come up with creative ways to lure those buyers towards your home. This will be discussed in another blog - stay tuned.
If you answered "buyer", the world seems to be your oyster at the moment - capitilize on your fortune. It can be overwhelming out there, but with the right realtor with the right plan, you will find that pearl of a home. For help on purchasing a home, please feel free to contact me for assistance.
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