Statistics on Sundays – Jul 27, 2008
July 27, 2008
photo credit to MiamiAmia, via StockExchange
Here’s a snapshot of sales activity in the past week, broken out by ZIP code. Don’t see your North Phoenix ZIP code listed here? Contact me and I’ll be happy to add it to those I track.
This week, I added color to indicate the direction of the trend. Red shows the numbers moving in the “wrong” direction, while green shows numbers that are moving in the “right” direction. At this point in the Valley of the Sun’s housing correction right means less homes for sale and more homes selling.
Our main obstacle right now is we have too many homes for sale and not enough buyers. Remember your high school Economics 101 class? Too much supply and not enough demand means prices go down.
THIS WEEK
There’s a lot of red on this chart. At least in the very short term, the trends aren’t good.
Last week’s snapshot isn’t colorized (sorry) but compared to the week prior, most trends here were positive. Had last week’s chart been color coded, there would have been a lot of green.
What changed? Who knows. It could be as simple as the weather was a little nicer this week. Not quite so oven-hot and maybe people went out to enjoy outdoorsy activities instead of buying real estate. Or maybe a lot of Realtors were in the office tinkering with our new MLS software instead of out signing deals. It could be anything. I’m not too concerned, since the general trend since last fall has been slow & sure in the right direction. Check back next Sunday to see what’s selling (or not) in your ZIP code.
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