Contrary to what some buyers beleive, there are not many foreclosure properties in our market right now and at the rate of inventory coming to market and lack of trustee sales, this is not a.&
February Listings under contract headed towards normal
Dated: February 23 2023
Views: 168
Mid February 2023 update from the Cromford Report
The recovery in listings under contract since the start of January has been spectacular, as can be seen from the chart below. Of course, this was from a very low start below 5,400 but cracking the 9,000 by mid February is impressive. We remain 27% below the count on February 13, 2022, so we are really back to normal rather than the wild and crazy market we had 12 months ago.
If we can stay over 9,000 for several months, we will have established "relief" as the next stage of the market cycle, and optimism will be appropriate for the second half of the year. That is an uncertain if, but not an unlikely one.
Steve Zajdzinski
Over 24 years in Real Estate and former Director of Sales for the largest private homebuilder in Northern Arizona, Steve has over 2 decades of real estate experience including 15 years in the new home....
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