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Arizona Home Sales Trending Up In 2010

By Logan Oulman

For the housing market in both Phoenix and the encompassing areas of Arizona, 2010 has proven to be a stronger year, thus far. As of the most recent market break down report, inventories have increased by 1%, and 7093 properties went to closing in just one month. There were some 27,594 active listings as of March 15th.

As the market continues to grow against 2009 results, it looks like the sales so far are significantly ahead. It is expected that there will be a substantial growth in the number of closings in the next few months, thanks to the 40% surge in pending home sales that we are seeing since the beginning of 2010. There were 27,594 single family detached homes on the market, as of March 15th. The present market has 4 months supply, after 7,093 houses closed in just the preceding 30 days.

In Phoenix, there are a total of 5,681 active listings and inventories are up 1% since last report. 1,629 houses have been closed upon over the last 30 days, which represents a supply that will last for approximately 3 1/2 months. Right now, the healthiest housing market is the West Valley area, which is inching out Phoenix by just a small amount. There are 6,489 houses for sale, with 2,118 closings, which translates to a supply that will last 3 months. The cities in West Valley are Buckeye, Avondale, Tolleson, Goodyear, El Mirage, Youngtown, Sun City, Peoria, and Glendale.

The Southeast Valley of Tempe, Mesa, Gilbert, Apache Junction, Queen Creek and Chandler came in third place, with 6,289 active listings for the time period and 1676 closings, putting this region at about a 3 3/4 month supply. The Northeast Valley (Scottsdale, Paradise Valley, Fountain Hills, Cave Creek and Carefree) remained unchanged from the last report having 4,212 active listings and 560 closings, which is about a 7 1/2 month supply.

In the over $1 million market, Scottsdale had 965 active listings and 53 closings, while in the under $1 million market, there were 1981 listings active in the same period, with 354 homes closed. In the more than $1m arena, inventory has decreased by 4%, and in the less than $1m arena, it has gone up by 2%.

Hopefully the housing market for Phoenix and the encompassing regions keeps improving, and the overall trend remains intact. This would be wonderful for the cities, people looking to purchase houses, and people looking to sell their houses too.

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Article Citation
MLA Style Citation:
Oulman, Logan "Arizona Home Sales Trending Up In 2010." Arizona Home Sales Trending Up In 2010. 2 Jul. 2010. uberarticles.com. 15 Feb 2016 <http://uberarticles.com/real-estate/arizona-home-sales-trending-up-in-2010/>.

APA Style Citation:
Oulman, L (2010, July 2). Arizona Home Sales Trending Up In 2010. Retrieved February 15, 2016, from http://uberarticles.com/real-estate/arizona-home-sales-trending-up-in-2010/

Chicago Style Citation:
Oulman, Logan "Arizona Home Sales Trending Up In 2010" uberarticles.com. http://uberarticles.com/real-estate/arizona-home-sales-trending-up-in-2010/


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