Many reports have come out that indicate the Phoenix housing market is very much on its way to recovery. The official stats for 2011 have been released by ARMLS and it really was an incredible year for the Phoenix and Scottsdale Real Estate market.
2011 came in second for total number of property sales, just behind 2005 which is classified as the height of the real estate bubble. There were 101,436 sales in 2011 and 104,725 in 2005. As you can see these numbers are very close. Buyers are coming to the Phoenix area to buy properties. It is getting fairly competitive.
The total number of new listings in 2011 was 121,041. Mid 2002 to 2004 are classified as the last normal markets in the Phoenix area. In 2002 there were 125,738 new listings on the market. We are currently below the normal market which is a very good thing considering that there is still some correction needed from the high 173,363 new listings in 2006.
Overall things are looking up in the Phoenix housing market. Now is definitely a great time to buy before the prices start to slide into a sellers market. In many of the high demand areas we are already seeing slight price increases so don’t miss out on this incredible opportunity to buy at very low prices.
If you have any questions about Phoenix or Scottsdale homes for sale feel free to call me at (800) 300-0263. I would be happy to help you find the home you want at the best price possible.
Carmen Brodeur BA, LLB
Arizona Realtor / Former Alberta Lawyer
(800) 300-0263
Carmen@ThePhoenixExperts.com
www.ThePhoenixExperts.com
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