HOME SALES HIGH FOR OCTOBER IN PHOENIX

HOME SALES HIGH FOR OCTOBER IN PHOENIX

The rebate program has created a last minute rush of first time home buyers here in the greater Phoenix area. Home sales were unseasonably high for October according to newly released statistics.

The consensus is the tax rebate set to expire Nov. 30. (Until yesterday when Senate passed an extension on the tax rebate) and the fact that everyone would agree that prices have pretty much hit bottom in Phoenix and outlying areas has prompted people to pull the trigger and buy!

Most of the sales were in the 100 to 150k range. A far cry from a few short years ago when an entry level home price was 200 to250k! I can remember not being able to find a fixer upper for 100k!!

We have also seen the new build market pick back up. The ghost town feel of an entire subdivision of lots with four model homes is being replaced with truck loads of framing materials and great incentives to qualified buyers!!

We still have a long way to go, but I see the light at the end of the tunnel!