Add to Technorati Favorites

Blog by

<< back to article list

October real estate stats for Phoenix metro



Text of the video below:

Hi  Adam Tarr here with a brief summary of real estate activity for the Phoenix metro are for October.  While I’d love to say every thing is great, and who wouldn’t, we all have to face the realities of the market.  All sales throughout the market were down in Oct. 2.9% from September and down 11.8% from Oct of 09.  Pricing was also down 6.2 % year over year as well.  Despite these negatives, there were some positives as well.  Pricing per sq ft did dip to it’s lowest level in the last 10 years at $81.98/s.f. in the 2nd week of October, but recovered strong to produce an average for the month of $83.46, which was 1.1% higher than Sept.

No one is expecting a big rebound at this time, but some of the most noted real estate statistics firms are favorably adjusting their indices.

 

Considering all this, there are still too many factors, large and small to know whether we will start a recovery or continue on the downward trend.  The obvious pluses continue to be historically low interest rates and favorable exchange rates allowing for increased vacation and second home buying by foreign nationals in our attractive AZ climate. 

So, that’s just a quick hit, and I’ll have some more statistics in upcoming posts.

Adam Tarr PC, Assoc. Broker
Citywide Real Estate
Phoenix, AZ
adam@WeAreAZRealEstate.com
480-236-7374

Archives

Newsletter
http://rpc.technorati.com/rpc/ping
website counter