In recent weeks, I wrote an article concerning the home trends in the Phoenix metropolitan area. Below and at right are graphs delineating the home sales and pricing trends in the Rim Country.
The date on the graphs represents the results for the preceding calendar quarter. These statistics were derived from information from the Central Arizona Board of Realtors.
The real estate market has some seasonal tendencies, therefore, it is best to compare the number of sales to the same quarter in the previous year to get an accurate reading of the trend.
And what do the trends tell us? It may be too early to tell, but it would appear that home prices have bottomed out and the velocity of homes selling may be increasing.
It is a good but early sign that buyers may be returning to the market.
Ray Pugel is a designated broker with Coldwell Banker Bishop Realty. Contact him at (928) 474-2216.