Great graph pulled by the Cromford reports on the Phoenix Metro area.
The information correlates with exactly what I have been seeing for the past year and a half.
The number of listings are down by approx 20% from last year
Sales for the year are up considerably.
Prices are down also.
In my opinion, the banks are finally coming to the conclusion that they have to sell these foreclosures and get them off the books. The % of list price increase over last year is attributed to the lower price and the influx of Canadians buying in the US market along with the winter snowbirds buying.
The prices now are hard to beat. Many Canadians spend hundreds of thousands of dollars on homes in Canada. They can get a very similar summer home for much less.
Posted by Brian on 10:43 PM •
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