Very few news stories can be built around “everything is just fineâ€. So while we don’t expect to see that in the headlines, it nonetheless is the story of our marketplace. Given the volatility of the real estate market from 2004- 2012, it is understandable that people are slow to believe that normal has returned. Michael Orr of the Cromford Report confirms this so beautifully:
“If we look exclusively at:
- single family homes
- in Maricopa County
- listed under $500,000
Then there has hardly been any change in pricing at all over the last 10 months. Here are the specific numbers … (price per square foot)
- Feb $115.82
- Mar $116.09
- Apr $115.23
- May $115.75
- Jun $116.04
- Jul $115.99
- Aug $115.95
- Sep $115.95
- Oct $116.31
- Nov $115.82 …
This is quite remarkable stability.â€
Scared to buy or sell because prices are “crashing� They aren’t. The water is safe.