Fall is on it’s way, and inventory is SLOWLY picking up. Median sales prices of single family detached homes continue to rise. With lower or stable interest rates, the table is set for the buyer if they are able to find what they want!
September Cromford Report is sharing an interesting trend that was seen in 2004 and 2005. Investors flipping NEW homes, and extreme sellers market trend.
For the market to turn to more favorable conditions for buyers the market growth needs to slow down (it is starting to do that over the last 4 months), then Price per square foot will need to change direction, first active listings and then sold properties. Watch for the trends.
The last three months the Verdes active price per square foot continues to rise along with Fountain Hills.