Market Shift? We might beginning to see signs, as inventory levels continue to increase in all West Valley cities, except Peoria which held tight with January reports. Months of Inventory increased in Maricopa County from 3.25 to 3.55 months of inventory which is bringing us closer to a flat or “Normal Market.” Naturally with an increase in supply of homes for sale, we will see a decrease or stabilization in home prices. Which is exactly what we saw with the average price of homes sold in five West Valley cities last month, Avondale, Buckeye, Glendale, Goodyear and Surprise all saw prices drop in February. Goodyear had the biggest dip from $270,365 in Jan to $241,837 for Feb. For the third month in a row, Avondale continued to see price drops, yet they maintain the lowest inventory levels in the West Valley putting them in a Sellers Market. Good News, interest rates remain historically low and weather is perfect for shopping for that Dream Home! 

Tags: Market Reports