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.