One does not have to dig very deep to find the mainstream media reporting on the woes of the Phoenix real estate market.
I’ll be the first to admit the current Phoenix market is not in the greatest of shape:
It may not be a good time to buy a Phoenix Home (but, maybe it is)
However; there is evidence, albeit anecdotal, that there are signs of life in the Phoenix market.
Our phone has been ringing off the hook recently — with serious buyers (and sellers) on the other end of the line. Email inquiries have increased in quantity and quality as well.
Apparently I am not alone in seeing increased activity. East Valley Tribune reporter Misty Williams ran a piece on Saturday, quoting a couple of my Phoenix real estate blogging buddies:
“I’ve been seeing an increase in first-time buyers – people who have saved their money and ridden through the wave of escalating prices,” (Great pic Dru! )
“. . . calls from interested buyers have at least doubled in recent weeks.”
Over on the west side of the Valley, Jonathan Dalton just released some absorption rate data that show an increase in sales as well (hence a resulting decline in absorption rate in some areas of town).
While we are by no means clear of a messy housing market, there are some positive signs of change happening. Only time will tell if it continues, but hey, at least it is a start…