VALLEY HOMES SALES GROW 5.1%

The numbers are out and last week 926 homes went under contract here in Metro Phoenix market place. That represents an increase of 5.1% from the previous week and the highest week since the week of June 11, 2007. On that day we registered sales of 1,024 for the week. Last week is our best week of sales since before Sup Prime II in August.
Months of supply based on Pending homes dropped to 9.7 months. That is the best reading since July of 2007.
We are moving in the right direction. It's like we started on the 1 inch line in football and have gotten a first down on the 10 yard and 1 inch line. We have a long way to go, but things are moving in a positive direction.