1. Pending home sales are up 7% nationwide.
2. Credit Suisse reports real estate buyer activity is up 20-28% in the Phoenix market. Much of the activity is first-time buyers and investors. I have said often it is the first-time buyer who will lead the way and get us out of this recession.
3. Investors are paying CASH. It is the speculation and credit purchases of investment properties that caused many of our current problems. Cash investors will help us improve the market.
4. Low price properties are literally “Flying off the Market”
5. Buyers are now saying the bottom is near. (Personally, I think the bottom is past. In the last few weeks the extreme low prices no longer show up on the MLS. New listings of homes for sale are priced at a more reasonable value.)
6. Walmart announced it is adding 22,000 jobs nationwide, 1300 here in Arizona.

Jim Little, Your Sun City REALTOR®