The Next Few Months In Greater Phoenix Sales
Posted by Artur Ciesielski on Tuesday, June 8th, 2010 at 11:27am.The peak sales season in Greater Phoenix is around June, so it won't be surprising when we get a little settling in the coming months. That's pretty much normal, more so since the heavily influential tax credit ends and the pending contract still within it's guidelines closed by the end of June 30th 2010 (the deadline to close) and the have, but weakening, influence of foreclosure and short sale properties continue to weigh heavily on the market.
And so the new ARMLS PPI forecast confirms this trend, with both the median price and average price index showing what is and will be (in hindsight) a peak in June and a sight decline in the heat of the summer. We'll come back to confirm these as new data arrives.
graph © - ARMLS
"The ARMLS PPI™ predicts future average and median prices based on reports of contracts executed but not yet closed. The ARMLS Pending Price Index is available only through the ARMLS system and has shown to be a strong indicator of future pricing trends."
Artur Ciesielski | 602.492.8004
Artur is a Realtor and partner with inPhoenix Realty Group and an aspiring flaneur, currently in Phoenix or elsewhere when time allows, which is rarely. You can find him running up miles on this car, cycling the urban streets, in the office on Central or working at one of the many coffee shops in Central Urban Phoenix.
Related Links
Print
ShareBe the first to comment on this blog entry!
