Is This the Best Time of Year for Real Estate in Phoenix?

Yes, end of article…  Okay, I’ll go further.  Today is February 1st, 2012 (2/1/12 for those fans of a certain Canadian trio), and it will be 75 degrees and sunny today.  And, contrary to popular belief, the Phoenix area real estate market is showing signs of a boom.  While the rest of the country is freezing we’re down here in our shorts and flip-flops buying real estate.  Now, you may be saying, “Patrick the national media says real estate is still in a slump”.  Do you really want to believe some talking head in a TV studio?  Or, do you want to listen to someone who has been practicing real estate in the Phoenix market for the last 14 years?  I will tell you this, if you’re not buying in the Phoenix real estate market RIGHT NOW, you may arrive at the party too late.

Let’s take a section of the market that’s popular with second home buyers and investors.  The low end.  I know, that’s not how real estate agents are supposed to talk.  We’re supposed to say things like “affordable” or “entry level”.  I call’em how I see’em.  I’m specifically speaking about the single family home market under $100,000.  When you take short sales out of the equation, as of this morning, there were exactly 145 actively listed homes in the greater Phoenix area.  In case you didn’t know, when I write about the greater Phoenix real estate market, I mean Phoenix, Scottsdale, Mesa, Tempe, Chandler, Gilbert, Peoria, Glendale, Avondale, Tolleson, Goodyear, El Mirage and Surprise.  145!  Are you kidding me?  The proof is below…

I know it’s not a great picture, but it makes the point.  What does all of this mean?  Have we seen the bottom of the market?  The next few months will be very telling.  January through May is the busiest season here in the Phoenix real estate market.  This is the time of year when people from Maine to Washington want to get out of the cold and sit by the pool, maybe play a little golf.  The Phoenix Open officially starts tomorrow, and MLB spring training starts in a few short weeks.  Who’s going to blame our winter visitors for falling in love with our wonderful home?  Who wouldn’t like a second home on a golf course in sunny Arizona?  If the current trend continues, we may be staring at a housing shortage in the next few months.

I’m NOT saying we’re headed for another real estate boom in Phoenix.  I don’t make predictions.  I like to study trends, and I like to point out facts.  The FACT is that if the current TREND continues, homes in Phoenix under $100,000 could become a thing of the past.  Like how I tied that all together?  So, get off the couch, pick up the phone, and call me today!  I’ll make sure you’re not late for the party!  Just don’t call tomorrow.  I’ll be at the Phoenix Open.  Until next time…

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