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Well we did it. We broke through last years high of home sales. Last week I recorded 1,268 homes sold. That is the highest level of weekly home sales I have recorded since the week of May 15, 2006. Also, our 4 week moving average hit of new year high of 1,212. That was the highest recorded since May 29, 2006! Yes, both of those comparisons are from 2006, not 2007 or 2998. We are selling homes at the highest rate in 2 YEARS!
Single Family Inventory 44,600
Months of Inventory based on Pending 6.0
Pending Home Sales 7,453
Last 7 days Sales 1,268
4 week moving average Pending Home Sales 7,219
4 week moving average Last 7 days Sales 1,212
This market is like a big tanker. It moves slowly, but all the signs are moving in the right direction. Unfortunately, it took the big drop in prices that finally hit Scottsdale and the North East Valley this year. I was shocked how fast prices dropped. But did they really drop? Or had they moved there and it took sellers lowering their price to find the market?
See you next week!
Looking forward to continued good news on the housing front.
Jeff Cameron
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