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Ron Wilczek, Broker #BR518431000

Monthly Sales Summary
The 5,552 monthly home sales in Metro Phoenix for October are:
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-37 less than September (0.7%)
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138 higher than October 2024 (+2.8%)
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93% of the 3-year, monthly average sales of 5,984
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Higher than the last 3 Octobers, perhaps indicating confidence in decreasing interest rates
NOTE: 8,704 is the monthly average sales for the 12-months preceding interest rate hikes in March 2022. 5,809 is the average since rate hikes began. That's -2,895 fewer monthly sales potentially caused by inflation and rate hikes.
Monthly home sales in Metro Phoenix play a crucial role in shaping the dynamics of both buyers and markets. For buyers, understanding these trends can provide valuable insights into the availability of homes and the competitive landscape. When monthly home sales are high, it typically indicates a sellers market, where demand outstrips supply, leading to increased prices and a more challenging environment for buyers. Conversely, when sales are low, it signal a buyers market, offering more negotiating power and potentially lower prices as sellers strive to attract interest.
For sellers, being aware monthly home sales in Metro Phoenix helps in strategizing the timing and pricing of their property. In a sellers market, they can benefit from higher listing prices and quicker sales, while in a buyers market, they might need to adjust their expectations and pricing to remain competitive. Additionally, analyzing monthly home sales data can reveal seasonal trends and economic indicators, aiding both parties in making informed decisions.
In summary, monthly home sales in Metro Phoenix are a key indicator of market health, directly impacting both buyers and sellers. By staying informed about these trends, buyers can navigate the market more effectively, while sellers can optimize their strategies to achieve successful transactions.