Dallas Real Estate- 10% Drop for July
My seller's are constantly wondering why the showings have slowed down or why there aren't any showings period. In July, there was a 10% drop in home sales which followed a 5% drop in June.
We currently have 47,391 listings on the market which is about 8% higher than last year!! WOW! My view of that is that our market is basically still holding steady. At the beginning of the year, there were about 46,000 which is not that large of a change. I recently heard that the Phoenix market went from about 3400 listings in Jan '05 to about 46,000 in June of '06. Now THAT is a big change in market conditions. I don't know what I would do if our market flipped like that.
All I can say is that my business is still fairly stable, and the only difference is that the listings are taking a little longer to sell.
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posted by Donna Harris, REALTOR® @ 8:58 AM
1 comments
1 Comments:
Donna, I am in the Phoenix market. Last year with less than 4,000 listings homes often sold sight unseen! Multiple offers over asking price! Within hours of being on the market = SOLD! Horrible market. Now with more inventory we are still selling homes and I believe buyers are getting better deals, more bang for their buck. Still selling about as many homes per month as we did....just tons of vacant homes that "investors" are trying to sell at overinflated prices.
I've been involved in real estate sales since 1973, saw prime interest during the Carter administration that created lots of owner financing, 2nd's and 3rd's .... it will cycle back again to a "normal" level.
Clary Roberts
www.CallClary.com
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