What Sellers and Buyers Need to Know About the Current Real Estate Market

What does all this mean for buyers and sellers?  “The Market has been very slow the last two months.  The contract ratio is currently at 29.9.  This is a fancy way of saying that the market is slow; but not too slow.  It is right on the cusp between slow and normal. ” says Allison Cahill, Realtor with RE/MAX Platinum Living.  Should buyers and sellers be threatened by these numbers?  “No need to panic.  The market always has a slow down in November and December.  We simply had the normal slow down coupled with a weak demand and low supply.  The market continues to stabilize.   This is a positive.  We have not had a stable, normal market in so many years.  I do not think most of us know what a stable market looks like anymore. ” says Cahill. 

What is ahead for Phoenix Real Estate in 2014? 

This is a great question. Sales and inventory should increase by the end of January. This is a pivotal month. Sales in the month of January should set the tone for the new year.   

For more information on our market, contact Allison Cahill www.allisoncahill.com 480-420-7646 with RE/MAX Platinum Living.