METRO PHOENIX HOME SALES JUMP 18%, WEEK OVER WEEK

Good news in the real estate market. Sales of Single Family Homes, SFH, jumped 18% last week when compared to the previous week. Last week 801 homes sold by my tracking of the MLS system, compared to 678 the previous week (see graph at bottom). Now the previous week was the best week in 23 weeks, this past week is best in 6 Months. The best sales since July 23, 2007, that was pre sub prime II in August. The worst is not over. But, one of the actions we needed to see is increased buyer activity and that is happening. I would love to see that number move over 1,000. Next we need even lower interest rates. Actually interest rates are pretty low now. Buyers are motivated because sellers are lowering their prices and getting their home sold.



What is so weird is the stock markets Globally are falling apart now. What were they thinking in October when they set new records with the DOW JONES? Nothing has changed between then and now, except we are further from the bomb blast and things are beginning to get better. They really had me confused at that time. I thought why is the market soaring?