Yesterday was a good day for my clients. After months of brutal negotiations, we have finally closed the short sale. Naturally, they were very thankful for the completed sale. Their credit won’t take the same hit as a foreclosure, and with their second child just a few months old now, they will be able to realize their dream of homeownership in two years instead of the four to seven wait due to foreclosure. Congratulations to the Logans!
Market Analysis for July 2009
August 2, 2009 By
The sizzling summer continues to sell homes. The trend of homes flying off the shelves remains the same as we have had three straight months of 8000+ homes sold. Phoenix continues to pace the race with its inventory going down to 3.9 months. Gilbert is a close second at 4.2 months.
July 2009 Inventory of Homes Available
11531 pending homes sales in May led to 8291 homes sold in June. And likewise, 11638 pending homes sales in June led to 8009 homes sold in July. That is a 72% and 69% closing ratio respectively. Those numbers in themselves aren’t all that high, but that indicates that we are no longer having the problems of financing fallouts like we did last year. We also saw 2859 homes bought in cash for the month of July, which means that we are still seeing 36% of the homes being bought in cash.
Status of Homes for the month of July
| Active | Pending | Sold | Inventory | |
| Tempe | 769 | 195 | 171 | 5.64 |
| Chandler | 1233 | 561 | 411 | 4.36 |
| Gilbert | 1238 | 667 | 454 | 4.20 |
| Scottsdale | 4280 | 679 | 566 | 8.76 |
| Mesa | 2462 | 975 | 784 | 4.38 |
| Ahwatukee | 505 | 158 | 122 | 5.43 |
| Paradise Valley | 499 | 35 | 26 | 20.54 |
| Phoenix | 7081 | 2985 | 2583 | 3.90 |
| Maricopa County | 26443 | 10349 | 8009 | 4.59 |
