Many people in the valley are asking what 2010 will bring to the housing market in the metro Phoenix market. Check out the chart below provided as a courtesy of the Cromford Reports. Their statistical research indicates the following concerning the demand for homes in the valley: A number above 100 would indicate a higher than normal demand and a number below 100 indicate lower than normal demand. A number of 100 represents balance.
In Feb. 2005 with an index number of 136.9 the valley reached it peak for demand where as Nov,2007 the indicator was reached a low of 56.6. In Dec 2009 we were at a demand index number of 147.5 which would indicate strong demand. Demand is being driven by low interest rates plus low prices ,which are similar to prices we saw in 2000 in many areas. Demand is expected to remain strong according to housing market experts through the summer selling season.
