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Phoenix Real Estate still a good market

Hello,

National statistics were just released for November's new home sales.  Numbers show sales down about 13% versus the same month last year.  Remember that national stats don't always reflect the regional statistics.

Although we obviously have experienced a slowdown in the Phoenix Real Estate Market, most areas like Scottsdale, Tempe, Mesa, Gilbert, Chandler, Glendale and Peoria have stabilized.  Most analysts feel that the market should remain fairly stable for the next year or so, while other parts of the country may experience a downturn.  Why?  Economy, jobs, climate and baby boomers.  The last relates to all the rest.  People have been moving here for years for the climate.  As the baby boomers approach retirement, many look to find more comfortable places to retire to, or maintain a second home.  Arizona, and specifically the Phoenix/Scottsdale area is very attractive due to the climate, but also due to it's expanding economic and job base. 

More statistics bear this out.  Nationally, re-sale listings are approaching numbers not seen in almost a decade. But here in the Valley of the Sun, the number of active listings is only about two thirds the amount that was on the market two years ago before all the craziness. 

So what does this mean?  Well, hopefully it means that the doom and gloom naysayers are wrong.  Don't be discouraged by the slow down.  It is more a return to normality.  Be patient if you are selling your home.  If you are buying, you now don't have to feel it's necessary to grab the first one you look at. 

We want to help you through it whichever aspect matters to you.  Please contact us for a free consultation.

Sincerely,

 

Adam Tarr and Sharon Kotula
Your Phoenix Area Real Estate Source
ReMax Excalibur
Scottsdale, AZ

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