For those who don’t know, RL Brown is deemed as ‘the man’ in our housing market. He supplies in-depth research on the housing market to nearly every major home builder in the state, as well as predictions on things to come. He’s one of the most respected and knowlegable stats and figures men in the industry today. He put out reports on the current state of the Phoenix Housing Market, which you can subscribe to at www.rlbrownreports.com. Pricey, yes, they are. However, if you’re looking for the best analysis of facts and figures, it’s well worth the money.

In this issue he states…

• October’s new home closings are showing signs of stabilization, with a “tally of 3,186 representing a very slight uptick from the previous seven months”
• closings are down 23% from last year, and permits slumped 25% from 2006.
• 13% of our resale homes are to out of state buyers, with 50% of those going to California. Buyers from Illinois bought 35 homes while Canadians bought 21.
• Only 20 resale transactions in the City of Maricopa out of the 1140 active listings- that’s a 57 month supply!
• the new home market is expected to hit a supply-meets-demand type situation in the upcoming 5-7 months. At that point, the downward pressure on pricing might begin to slow down.

In an upcoming post, I’ll give my own statistics on Maricopa county. It’s no secret that our market has dropped. The key here is what do YOU do about it? Sit around and wait, or, take action NOW and capitalize on the outstanding deals out there? I, for one, know what I’m doing