Behind the Headlines – the Market is Stable

Very few news stories can be built around “everything is just fine”. So while we don’t expect to see that in the headlines, it nonetheless is the story of our marketplace. Given the volatility of the real estate market from 2004- 2012, it is understandable that people are slow to believe that normal has returned. Michael Orr of the Cromford Report confirms this so beautifully:

“If we look exclusively at:

  • single family homes
  • in Maricopa County
  • listed under $500,000

Then there has hardly been any change in pricing at all over the last 10 months. Here are the specific numbers … (price per square foot)

  • Feb $115.82
  • Mar $116.09
  • Apr $115.23
  • May $115.75
  • Jun $116.04
  • Jul $115.99
  • Aug $115.95
  • Sep $115.95
  • Oct $116.31
  • Nov $115.82 …

This is quite remarkable stability.”

 

Scared to buy or sell because prices are “crashing”? They aren’t. The water is safe.