The number of sales for October of 2007 were 3,610, up from September's sales of 3,050. That's 560 more homes that sold in a months time. While yes, these numbers are down from last year and the year before, it is to be expected in the market that we are having. We also have an enormous inventory of homes for sale in the Greater Phoenix area. Thursday of this week there were 47,500 single family resale homes for sale, not including condos or new builds.

More than a quarter of the homes sold were under $200,000. However, the size of the homes sold were 110 square feet larger than last years home sales. This demonstrates that the MOVE UP sector is still alive. People want bigger homes at a better price, and with all the deals waiting to be made this is entirely possible. Also, New Home Builders are offering great prices and incentives that will not last forever.

If you feel that you want to MOVE UP in home size, or you want to sell, the time to do so is now. If you are worried about home prices, than you can hold off buying or selling. However, you may be missing the boat on a deal of a lifetime. Outrages prices, holding lotteries for homes, and bidding wars on homes could make a comeback soon, and you do not want to find yourself out priced from the market.

A link to an AZCENTRAL.com article:

http://www.azcentral.com/realestate/articles/1115biz-resales15-ON.html