August Phoenix market stats
HI,
I just wanted to give you some basic numbers from August. To start, some positive news. Initial August sales numbers were up 6% over July. But these will change as corrections are made to the database and the increase might end up being a little smaller. Still, this is a positive, especially after the July drop.
Short sales hit a record high of 2264 for August, which is approximately 31% of the market and all distressed sales were approximately 71% of the total market. Still average pricing was down, most likely reflecting supply and demand principles and higher inverntory levels. Short sales and lender owned properties represent appoximately 57.5% of supply. Pricing on normal sales and short sales dropped, but REO's remained firm.
Have a grea day and make it better for someone else as well.
Adam Tarr PC
Citywide Real Estate
Phoenix, AZ
adam@WeAreAZRealEstate.com
I just wanted to give you some basic numbers from August. To start, some positive news. Initial August sales numbers were up 6% over July. But these will change as corrections are made to the database and the increase might end up being a little smaller. Still, this is a positive, especially after the July drop.
Short sales hit a record high of 2264 for August, which is approximately 31% of the market and all distressed sales were approximately 71% of the total market. Still average pricing was down, most likely reflecting supply and demand principles and higher inverntory levels. Short sales and lender owned properties represent appoximately 57.5% of supply. Pricing on normal sales and short sales dropped, but REO's remained firm.
Have a grea day and make it better for someone else as well.
Adam Tarr PC
Citywide Real Estate
Phoenix, AZ
adam@WeAreAZRealEstate.com