My New Blog

http://rismedia.com/2009-07-28/trending-upward-us-home-prices-improve-for-fourth-consecutive-month/

As of today there are less than 27,000 active homes on the market in Maricopa county, a little over 16,000 pending homes, and over the past two months have sold more than 8,000 homes a month.  That translates to a little over a 3 month supply of homes which is looked at by many experts as a "normal" number for a healthy home market.

This isn't to say that we are out of the woods yet with the predicted 1 million more foreclosures yet to come but the signs are becoming more promising.  What is also more promising is the return of the "normal" seller to the market.  Many of these sellers are realizing that there is a huge demand by buyers to deal with an actual person/seller, which is evident by the multiple offer situations we are now seeing again in many price brackets.  In my experience with buyers they are fed up with long waiting periods that are evident with short sales and beat-up homes that are way too prevalent with bank-owned homes.

Sellers are also realizing that if they are planning on buying a home here after they sell theirs, that prices are back to early 2000 levels in many areas.  Your home may not be worth what is was during the inflated, abnormal, years of 2003 and 2004, however the home you would have been buying then wouldn't have been affordable to you anyway.  Sellers waiting for their home values to return to a higher level must also realize that if they are buying here the homes they will be looking at will have also risen to a higher level. 

Everyone knows it is a great time to buy, but many sellers are now realizing that it's a good time to sell!