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Best Time To Buy A Home In Phoenix


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Blog by Doug Ingersoll | July 11th, 2017


From Elliott Pollack Monday Morning Quarterback 7-10-17:

According to the Cromford Report, active listings of resale homes in Greater Phoenix were down to 23,178 in June from 24,756 in May and 25,785 a year ago.  Resales, on the other hand, were at 9,523 in June compared to 9,858 in May and 8,996 a year ago.  As a result of the supply/demand crunch, home prices continue to increase.  The median price of resales was $245,000 in June compared to $240,000 in May and $230,000 a year ago.
An indication of how much the housing market in Greater Phoenix continues to improve can be seen by foreclosure data.  Foreclosures are now lower than the early 2002 boom and continue to decline (see chart below).  This is true for notices of foreclosure (down 5.5% from a year ago), residences foreclosed (down 33.1% from a year ago), residential REO properties (down 25.2% from a year ago) and distressed property inventory (down 21.5% from a year ago).
 
And from the Cromford Report, the sales per month for 85050/85054 over the last 10 years:
Seasonal Trends in Sales cromford dr last 10 years.png