REAL ESTATE SALES STATISTICS-PHOENX

Real estate sales statistics, according to the

Cromford Report are down from the same time last year and last month.  I am going by normal transactions….this meaning that this particular statistic does not include foreclosed properties or short sales.  Active listings are down, which is good for keeping over saturation in check, pending listings are down slightly from last month and up from last quarter.

As far as percentage of all types of transactions, number of active listings are down across the board; pending sales are down slightly from last month, but up overall.  We can attribute most of the activity to first time home buyers and the fact that the prices are low enough to entice them into the market.  The sale of townhomes and condominiums is down significantly.

I believe people are still cautious.  Consumer confidence is down, credit is available, but not like it should be.  I don’t think you should be able to buy a home without a downpayment.  Homeowners need to have some “skin in the game” in order to feel compelled to make it work.  We will most likely continue to see foreclosures for some time to come.

Should you be interested in a statistical report for your particular zip code or city, please feel free to contact me.