Comments on: Phoenix Housing Sales Close Out 2006 With a Whimper http://housingdoom.com/2007/01/02/phoenix-home-sales-dec-2006/ Sat, 11 Feb 2012 07:12:54 +0000 hourly 1 http://wordpress.org/?v= By: twist http://housingdoom.com/2007/01/02/phoenix-home-sales-dec-2006/#comment-2848 twist Tue, 02 Jan 2007 19:06:22 +0000 http://housingdoom.com/2007/01/02/phoenix-home-sales-dec-2006/#comment-2848 Asset Hunter- There are a lot of people that believe this is a "buyers market," and that prices will come back in the spring. I see an amazing amount of speculators still running around, picking up "bargains." Housing busts generally don't happen fast, they kind of fizzle- although this one is fizzling faster than general expectations. I think I'll pass on that $1.5M house. (Most of them are going to sell south of 7 figures anyway!) Asset Hunter-

There are a lot of people that believe this is a “buyers market,” and that prices will come back in the spring. I see an amazing amount of speculators still running around, picking up “bargains.”

Housing busts generally don’t happen fast, they kind of fizzle- although this one is fizzling faster than general expectations.

I think I’ll pass on that $1.5M house. (Most of them are going to sell south of 7 figures anyway!)

]]> By: Old Mike http://housingdoom.com/2007/01/02/phoenix-home-sales-dec-2006/#comment-2847 Old Mike Tue, 02 Jan 2007 19:05:27 +0000 http://housingdoom.com/2007/01/02/phoenix-home-sales-dec-2006/#comment-2847 Wow. Great data twist. I can easily understand the 2000 plus less buyers. Some are those marginal buyers for whom trick mortgages will no longer work. The decline is also probably comprised of those "investors" who hit the "flip this house" wall and those equity challenged who can only trade up when they sell at a now much more difficult (but obviously not impossible) extreme mark-up. But what do you make of the other 5000+ December buyers. I do not believe that, as some comments have suggested, they are all"sheep" or decieved by Realty Nation propaganda. And it defies imagination that most are not now aware of the ongoing correction through the MSM. In the last two months almost 11000 people bought houses in what objectively appears to be one of the most risky markets in the US. What do you see when you look at it from that perspective? Clearly alot of people reject the strictly economic buy/rent tests (myself included) and probaby always have. Is that one reason why housing prices are "sticky down"? Wow. Great data twist. I can easily understand the 2000 plus less buyers. Some are those marginal buyers for whom trick mortgages will no longer work. The decline is also probably comprised of those “investors” who hit the “flip this house” wall and those equity challenged who can only trade up when they sell at a now much more difficult (but obviously not impossible) extreme mark-up. But what do you make of the other 5000+ December buyers. I do not believe that, as some comments have suggested, they are all”sheep” or decieved by Realty Nation propaganda. And it defies imagination that most are not now aware of the ongoing correction through the MSM. In the last two months almost 11000 people bought houses in what objectively appears to be one of the most risky markets in the US. What do you see when you look at it from that perspective? Clearly alot of people reject the strictly economic buy/rent tests (myself included) and probaby always have. Is that one reason why housing prices are “sticky down”?

]]> By: Asset Hunter http://housingdoom.com/2007/01/02/phoenix-home-sales-dec-2006/#comment-2846 Asset Hunter Tue, 02 Jan 2007 18:49:26 +0000 http://housingdoom.com/2007/01/02/phoenix-home-sales-dec-2006/#comment-2846 I'm actually shocked that December is as high as it is! I was expecting low 4,XXX somewhere, with all of the forces pushing down on sales volume. It would be easy to see more sales if prices significantly dropped, so it will be interesting to get the Dec. 06 median pricing to factor in to the YOY numbers. Anyone have an idea as to why there were (even) this many sales? Asset Hunter (shameless flattery alert) Twist ~ for your hard work and diligence... if ANYONE deserves a $ 1.5 + million dollar home in Gilbert... It's You!!! :-) Again... Thanks getting this data to us!!! I’m actually shocked that December is as high as it is!

I was expecting low 4,XXX somewhere, with all of the forces pushing down on sales volume.

It would be easy to see more sales if prices significantly dropped, so it will be interesting to get the Dec. 06 median pricing to factor in to the YOY numbers.

Anyone have an idea as to why there were (even) this many sales?

Asset Hunter

(shameless flattery alert)

Twist ~ for your hard work and diligence… if ANYONE deserves a $ 1.5 + million dollar home in Gilbert… It’s You!!! :-)

Again… Thanks getting this data to us!!!

]]> By: NVmike http://housingdoom.com/2007/01/02/phoenix-home-sales-dec-2006/#comment-2845 NVmike Tue, 02 Jan 2007 17:38:27 +0000 http://housingdoom.com/2007/01/02/phoenix-home-sales-dec-2006/#comment-2845 Wow. 8% below 2002 levels. Wow. 8% below 2002 levels.

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