I think despite everything if your deciding to make a purchase in this area the big picture looks good for the long term. If your looking at homes over 1million there is still some uncertainity with the prices finding stability.
Lisa Katz, CSSN
Why so many sales? It is a large community and quite frankly the people that gravitate to this area have money (or the ability to purchase). They know prices are down and are buying at relative bargain prices. Long term value? EXCELLENT.
Lots of sales because people are actually starting to do strategic foreclosures.
Go here to see what I mean: http://www.cbsnews.com/video/watch/?id=6470184n
Here are some very interesting stats from last month.
April was a record month: 9297 Homes Closed
There is currently 3 months supply that makes this a SELLER'S MARKET
Why all the demand? And where is it coming from?
Every 17 seconds a baby boomer turns 50.
Lots of demand from people moving from "Rust Belt" to "Sun Belt"
Also Canadians can now buy homes in Arizona with a mortgage.
Many are going in together and buying 1 home to share for the year. Kinda like a time share except each person owns a portion of the home.
Hope this helps.
Terry S. Smith
DPR Realty LLC
8341 E. Scottsdale, Az 85260