Sales of existing homes have been robust through the winter months so far in NoPho, the I-17 corridor from Norterra to New River. In January, sales were up significantly in four of five zones. The region’s total sales number in January, 128, was 27 percent higher than last January. (December sales volume was up 4 percent compared to the year prior.)
The pace contrasts sharply with the national picture.
Nationwide, existing home sales in December, the most recent month analyzed, declined 10.3 percent compared to the year prior, and in western states the drop was 15 percent, according to the National Association of Realtors. Pending home sales, a predictor of future closings, fell 2.2 percent nationally in December.
Notably, inventory at the end of January was up slightly in all five NoPho zones, compared to December. Prices continued a years-long upward trajectory for the most part, mirroring the nearly seven-year national trend of rising prices.
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