In October, I wrote about the showings by buyers for various zip codes by price range for both single family homes and condos. Here in this post, I’ve updated that chart with the number of showings between Nov 1 thru Dec 10 (today). Similar results but far fewer showings. We’re still seeing little activity in the upper price ranges.
Click to enlarge graph
The lack of activity for the move-up price ranges is why the National Association of Realtors® pushed Congress to do something to help this market. Thus, the Tax Credit stimulus added the $6,500 credit for CURRENT HOMEOWNERS. Read Details.
Many of the upper-priced homes have had their prices reduced to almost ridiculous levels. If you’re a buyer, you may find that these luxury homes cost less per sq ft than lower priced cookie-cutter homes.
I know the holidays are upon us, but if you’re planning to sell and buy, you need to get ready as January is only 3 weeks away.
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I find that because of the holidays home buying seems to slow done at least here in Arizona. But you are absolutely right that January is near and soon that stimulus is coming to an end.
Normally, Jan-Feb are pretty slow here because of the weather. But this year, if sellers want to capture the Tax Credit buyers, they can’t wait till March to list since that only gives 2 months to hope to get the home in-contract.