San Tan Valley and Queen Creek and the housing market

Christmas is only 5 days away….WHAT? 5 days? Where has this year gone? 2011 has brought many changes in the real estate housing market this year. We have gone from 90% homes on the market being foreclosures and 10% retail (2010), to 90% retail and 10% foreclosures. Amazing how a year makes a difference.

We have seen an increase in the average sale price overall, and we do not have as many homes on the market, which has driven up sale prices.

The banks are not “releasing” many of the foreclosed inventory to the market, so hopefully in 2012 they start putting some of the homes on the market. This will once again level out the pricing, but make it easier for buyers to purchase a home, especially the homes under 100k.

Arizona housing market is making strong improvements, but has a long way to go.

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