Phoenix Area - February 2015 - Slightly Optimistic Outlook

February Market stats are out from ARMLS and they are a little less bullish on the market as compared to January.  The over feeling is still an optimistic outlook but demand remains very low.

From an investor selling standpoint, we see sales picking up and nicely remodeled homes are selling quickly.  Buyers are asking for tons of repair items on the BINSR and we are usually accommodating them to avoid a risk of cancellation.  Most of our flips are selling in under 2 weeks and in some cases with multiple offers.  To see where market hot spots are, check out this blog post on contract ratios.

From an investor buying standpoint, January was a tough month to buy flips.  The competition that was snoozing over the holiday break definitely woke up.  We lost out on a lot of flips but recently we've picked up a few.

"With both the number of pending sales contracts and the number of UCB listings being greater than last year at this time, it is anticipated that February 2015 sales volume will exceed the volume of 5,474 of February 2014. We may only be taking baby steps at this time but our market is modestly moving forward." - From ARMLS

"Buy Buy Buy, it is going to be a good year." - From ReZamp

Based on information from Arizona Regional Multiple Listing Service for the period February 2014 to February 2015.  ARMLS Copyright 2015.