Looking for Good News for the AZ Real Estate Market?

Hello,

it is May 1st and the April numbers are out! As I have been reporting over the past weeks, sales have taken off! Below you can view several charts detailing and affirming this action in our real estate Market. Let’s look at a couple of facts, shall we???? Single Family Home closings in April are up 84.9% compared to last year, how is that for a good stat? Why do news reporters not report good news? Sales rocketed in 2005, when comparing April 2009 closings to April 2005, we are only 200 lower this year. We beat 2004 April closings this year. I suspect we will be beating the 2005 numbers real quick.

The chart above shows single family home closings for the first 4 months of each of the last 9 years. 2009 is on FIRE!

Here is another look at single family home closings over the past 9 years.

This chart shows months of Inventory of available homes compared to Pending homes. You can see that we have returned to levels of 2005.

This chart shows the actual number of single family homes on the market. It goes back 3 years and we are now at lower levels than those of May 1, 2006!

Is it market turn around? What is happening in the market? Are we at a bottom? These are difficult questions to be precise with and usually can only answer with definitiveness several months after they have occurred. But let’s use some common sense here, THE MARKET IS TURNING, BOTTOMING RECOVERING!