December Stats are out

For only the second time in the last five years the average homes sold in December increased.

Is this a sign of things to come? Hopefully. The number of homes sold for December are 5,411. This is an increase of 1.37% over November sales and 12.8% below the average number of sales for December. However, with December traditionally being the slowest time of the year to sell a home, the increase in sales over November shows some encouraging signs for things to come. The average sales price dropped by 1.61% in December which is not a very encouraging sign. So we are still in a state of flux when it comes to real estate in the Phoenix area. The current number of homes on the market had been dropping all the way until December 31^st. Starting on January 1^st the number of listings started to increase for the first time since October. As of this morning we are currently at 43,632 active listings on the market, 52.9% of those homes have been on the market for over 3 months. As the prime selling season approaches it will be interesting to see what the trends show. January usually has considerably fewer sales than December, will that be the case this year? I do not believe that will be the case this year. If anything January sales will be very close to the December numbers.

We shall see soon enough.

Arizona is fastest growing state

Arizona has officially become the fastest growing state in the union.
There is on average 584 people moving to Arizona every DAY!!!
That is over 4000 per week and over 17500 per month.
This fact alone should prove to be a boon for Arizona and Phoenix.
Those moving to the state need a place to work and a place to live.
By the end of 2007 the real estate market should be buzzing along again.

It looks like it is definitely going to be a Happy New Year!

To read the CNN article follow the link below
http://tinyurl.com/ye2yzg