We apologize for yesterday's post... don't know what happened but we'll try it again today.
The sales stats for residential housing in the area show a steady decline. Since we run the numbers on a weekly basis, it is not too surprising to us, yet much of the media is clamoring on this information as a "surprise".
The graph shows the sales stats for the past few months in the Phoenix, Scottsdale and Paradise Valley markets. Click on the graph to see a larger view.
Last winter we looked into the crystal ball and predicted a continued slow market with a probable summer sales fall off. How did we know? It's actually pretty simple... the number of qualified buyers was reduced during the thunder market of 2004 through mid 2006. Inventory levels were on the rise creating more concern and a feeling from many buyers that they should wait. Add the doomsdayers who seemed to write endless articles about the state of the market and it's clear why demand is down
A few other factors figured into our report, yet the fear that unbalanced media reporting initiated was the biggest factor... for those of you who are fans of "The Secret" it should be clear.
We do believe the greater Phoenix market will see some light in 2008 and that good news will come in another post.
The Urban Brothers... Ron & Gene




