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For the first time since March of 2007, inventory levels are below 40,000 here in the metro Phoenix area. This morning there are 39,969 single family homes for sale in the Metro Phoenix area as measured in ARMLS.
Inventory levels continue to decline as sales surge. Sales of single family homes in the metro Phoenix area have jumped to over 1,800 sales for last week. How high is that? From March of 2005 through June of 2005; 1800 to 1900 single family homes closed escrow on average per week. WE ARE BACK TO HOME SALE LEVELS OF 2005!
The end of the housing decline is near. You will only know it is over when you see it in the rear view mirror. I sold another listing yesterday for FULL price as buyers fought for the home. The home had been on the market for 3 months!
Just my opinion...Jeff Cameron
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