Timing the Market

Timing the market....how many buyers are waiting for the market to bottom out?  My guess is there are a lot of people out there waiting to purchase their next home. They are unsure of when to buy - they don't want to buy now because they're afraid they will hear that prices continued downward.

That is very understandable but you have to think - have you ever said " I should have bought X before the price went up"? That's going to happen to a lot of people across the country in the near future. Is that this week, next week or in a couple of months? Good question!

What are we seeing in Phoenix? Well the number of active listings has not continued to grow and the number of pending homes out there are starting to climb. Does that show the signs of the market changing? Or is it simply a blip on the radar screen?

Here's a couple of things I think were interesting that was found on a site called Radar Logic. It showed that back in December of last year, 4 of the top 25 metros they track showed that prices have climbed. This doesn't sound like a big deal but considering over the last year or so all metros were down, I think it is good sign.

One other thing I liked was that over the last 5 years, prices for real estate in Phoenix, Arizona are still up about 9.4%. So when is it time to buy? I think we're in the best buying cycle we're going to see in a long time. When things do pop, do you want to be on the sidelines saying "I should have bought last spring"? Or would you like to be in that new home and listening to your friends say "I should have..."?

To check out property values, etc. visit my website http://www.valleyreadvisor.com/