How’s the Market? Here is the January 2017 West Valley Market Report. I wanted to point out something we have not discussed in previous Market Reports, however worth noting especially for a January Market report. Since the average real estate transaction is 30-45 days escrows, technically the numbers report in the given month, actually reflect business done the previous 4-6 weeks. Many of you have already figured that out, but just wanted to through that out there since January numbers are really the business done over the Holidays. Traditionally a slower time of year, but Phoenix area always seems to hold on with decent business. All West Valley cities did have declines in the numbers of transactions thorough out the holidays. Also all cities had a decrease in inventory levels. Which means those folks listing during Holiday season had a really good chance of selling their home!! As many sellers wait till Spring, meaning February-May to list their homes, we will most likely see those inventory numbers come back up. If you are thinking of buying, its a great time to buy as Spring approaches and interest rates stay low. 

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Tags: Buyers, Listings, Market Condition, Market Reports, Sellers