The Housing Crisis Is Over or is it?
An article in the Wall Street Journal declares that the housing crisis is over. It is an interesting article and worth reading. It compares today's market with those of the 70's 80's and 90's.
http://online.wsj.com/article/SB121003604494869449.html?mod=WSJBlog
The article has a lot of merit and the local statistics seem to support it. Last fall, we had an 18 month inventory and today the Phoenix Arizona market area has about 11 months supply. Gilbert has about a nine month supply of homes for sale based on sales of 302 in the past 30 days. Currently, Gilbert Arizona has 2463 properties listed for sale. Chandler has a similar inventory to Gilbert's with 2337 listings and 30 days sales of 304. The Phoenix market area has 54,489 homes listed with sales of 5,034
We are still in a buyer's market and there are some really good homes for sale. This is a good time for first time home buyers to enter the market. Investors have already started looking at picking up some good deals for future investment. Affordable housing has been keeping a large segment of people out of the market and now might just might be the time for them to purchase a home.
Sellers still need to price their homes competitively. Pricing is still the biggest hurdle in getting a home sold. Condition plays a big part, but if a home is priced for todays market, it will receive more showings. More showings equal more chances for offers.
If you are ready to start looking for a home or have one to sell, come to www.RealEstate4Gilbert.com, or email for an appointment.