Queen Creek Homes for Sale – Market Report Prices Increase
That’s right!! For months I’ve been talking about shrinking inventories, particularly REO inventory, according to the Cromford Report Trustee Sales in Maricopa County AZ in September 2011 were 2689 compared to 4808 in September 2010( 44% fewer). Of which only 1280 single family homes went back to the lender, the fewest number since November of 2007, 61% fewer than the lenders received back in September of 2010.
I’ve been stating for months that price is a lagging indicator following a decrease in inventory and telling people inventories have been going down, and asking, when will prices start to increase?
Homes for Sale in Queen Creek for example were selling at $57.10 per square foot as of 10/06/2011, up from $52.45 /sf on 5/06/2011 and prices of Queen Creek Homes for Sale are up 4.3% for the year.
Ok, so maybe you missed the bottom, but the good news is you may still be able to invest in a home for less than you can build one for. ( subject to change I’m sure)
To do a Property Search of the MLS for homes for sale in the valley.
To search bank owned homes for sale in the east valley.
This information is for informational purpose and not intended to be investment advise, and should be explained to you in detail. You should always feel free to consult an attorney and/or tax adviser to obtain further information you deem necessary. I want you to be prepared.