METRO PHOENIX HOME SALES GRAPH

Above is a graph that reflects the Metro Phoenix home sales. There are 3 different lines plotted. One is the weekly home sales, another is the 4 week moving average of weekly home sales and the last is the 4 week moving average of home closings. All this information was derived from the Arizona Multiple Listing Service. We use the 4 week moving averages due to the fluctuations in the exact reading time.
You can see the home sales and closing are continuing to rise. Demand has been returning to the market. Buyers are taking advantage of the lower prices and buying up a storm. We have a ways to go, but things are getting better. One confusion by the public is that even though things are getting better prices continue to drop. That is just the way it works! Until we transition from a buyer's market to a seller's market, prices will continue to drop.