The Phoenix Real Estate Weekly

Scottsdale, Arizona

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The Phoenix Real Estate Weekly 11/06/09

Posted at The Phoenix Real Estate Weekly by Barb Savoy-Pacella

Nov. 6, 2009

Tagged with: az, foreclosures, glendale, homes, peoria, phoenix, scottsdale

For additional information, or to view properties for sale, visit our web site at www.PacellaGroup.com

We continue to find ourselves in a rather unusual market. We are seeing the seasonally anticipated rise in inventory, but we are also seeing extremely strong sales and pending sale inventory, as well.

According to the Cromford Report, demand is still rising faster than supply, and fewer Notices of Trustee sale were filed in October than the previous month.

A more recent occurrence is that we are starting to see more activity in the $400,000 - $600,000 price range, which had previously been very flat. This could be encouraging, particularly if the extension of the tax credit is passed to include the measure that would apply to current homeowners, as well as first time buyers.

Current Conditions in the Phoenix Market:

There are 25,369 single family detached listings currently active in MLS, which is an increase of just 352 listings over last week.

There are 32,801 total listings actively in inventory, including patio homes, town homes, and condos

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