These numbers are amazing. Like everyone in the city with a house wants to sell, at the same time there are no buyers. I think we'll hit 50,000 this year.
Wonder what all the realtors are doing besides taking listings?
6/30: 11,665
10/20: 21,806
1/2: 26,715
2/28: 36,176
16 comments:
Wonder what all the realtors are doing besides taking listings?
With all these new listings, who's got time for anything else?
Does anyone have an updated # in PHX for listings?
number as of last night
3/3: 36,517
Here's a pretty comprehensive article on the Phoenix area market from "tomorrow's" newspaper. There is some industry spin, but still ok. Parts of the article actually put the lie to some of the spin.
One ridiculous line by a broker "For resale prices to decline, we would have to experience interest rates in excess of 10 percent and a job reduction of 40,000. Both are very, very unlikely."
Sir, reductions have already begun. See the MLS and other paragraphs in the same article that you are quoted in. Are the averages way down? Not yet, but I really do not think a 25% to 35% drop in Metro Phoenix averages from the '05 peak would require either of your precursors. That being said, there probably will be some concurrent economic fallout. But spinning in the face of this skyrocketing inventory is just pathetic.
http://www.azcentral.com/class/marketplace/
homevaluesspring06/articles/0305vhv-slowdown.html
MTN, maybe he can get into bankruptcy :)
There will be plentttttty of work there.
There will eventually be a Bankruptcy Attorney Bubble, but maybe he can get int while the getting is good!
total inventory currently over 37,000
Why do 37,000 people want desperately to get out of Phoenix right now? Is it really such a bad place?
because their homes went up in value 100% in 24 months, and are about to crash 50% in 6 months
desperation. greed. fear. take your pick.
guy, don't forget that 37k on MLS doesn't include FSBO's. we should add another 10k shitboxes. nice!!
Oh, yes, I am staying up nights worrying about the real estate lawyer in his mansion that may not be able to keep up their lavish lifestyle! I'm so, so worried. Maybe the kiddies may have to go to a public school in north Scottsdale. Oh my dear sweet Jesus! My hands are clenched in agony! Maybe she won't be able to get all her plastic surgery done!! Maybe his Mercedes will develop sudden brake brake problens on a very steep hill....(wishful thinking.)
Is anyone else out there crying for these attorney dirtbags from Hell?!
phx. hot,smoggy,brown.
37,000 and rising? This can't be good for any of us and Toto too! Must think! Must think! Where to hide? Where to hide?
Arizona just use to be some cheap housing place were retired people went to soak up some sun before they died , and snowbirds went for the winter . The baby-boomers started buying for retirement ,( especially with these low interest rates . It got out of hand last year when the flippers and investors went in driving up the prices . Thats were most the listings are coming from , plus the overbuilding by the builders. Only so many baby-boomers retire each year . So it goes back to supply and demand .
Phoenix is a shithole. Used to live there before the boom. No job market.
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