Mesa Regional Home Sales Trending Up In 2010

Phoenix and it's neighboring cities in Arizona, have seen an improvement in the housing market, since the beginning of 2010. As of the most recent market break down report, inventories have increased by 1%, and 7093 properties went to closing in just one month.

The number of active listings since March 15th, was 27,59
4. So far in 2010, home sales are showing gains over last year, and the housing market is steadily making progress.

It is expected that there will be a substantial growth in the number of closings in the next few months, thanks to the 40% surge in pending home sales that we are seeing since the beginning of 2010.

The number of single family detached homes that were on the market since March 15th, was 27,594.

The present market inventory of homes, with 7093 homes going to closing in the last month, is 4 months. Currently, home inventories have increased by 1% since the most recent report, and 5,681 listings are active in Phoenix. Last month, 1629 homes closed, equating to approximately a 3 1/2 month inventory of homes. Right now, the healthiest housing market is the West Valley area, which is inching out Phoenix by just a small amount. With 6,489 current active listings, Peoria, Glendale, Surprise, El Mirage, Sun City, Goodyear, Litchfield Park,

Youngtown, Tolleson, and Buckeye, which make up the West Valley, had closed 2118 properties, giving this area a 3 month inventory. Right behind Phoenix for the number 3 market in Arizona is the Southeast Valley, consisting of Mesa, Apache Junction, Chandler, Tempe, Gilbert, and Queen Creek. Here, there are 6,289 properties for sale with 1,676 closings, which means there is enough supply for 3 3/4 months.

The numbers for the Northeast Valley and the cities of Cave Creek, Carefree, Fountain Hills, Scottsdale, and Paradise Valley, are identical to the numbers on the last report.

There are 4,212 properties for sale and 560 closings, which means there is enough supply for 7 1/2 months.

In Scottsdale, 1,981 properties are for sale and there were 354 closings in the less than $1m arena.

In the more than $1m arena, there are 965 properties for sale and 53 closings.

In the more than $1m arena, inventory has decreased by 4%, and in the less than $1m arena, it has gone up by 2%. This is a desirable trend, and there are signs that the housing market in and around Phoenix will keep getting better. This would be wonderful for the cities, people looking to purchase houses, and people looking to sell their houses too.
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