Another week and another slight uptick in the number available subdivision homes with 335 homes now listed on the MLS at an average of $94.18 per square foot, a listing average of which just continues to rise. 184 homes are currently under contract down from 190 the week prior and it was a decent week in sales as 26 homes sold over the last seven days, selling at an average of $81.93 per square foot and bringing our YTD numbers now to 1,271 homes sold at an average of $77.80 per square foot. Earlier in the year I felt that the average sold price per square foot would reach $80 by the year’s end but values have leveled off and demand remains just a bit soft so I think we will close the year out under the $80 mark. For the year the Maricopa market remains 10.3% up in terms of homes sold, and 3.8% up in terms of the average sold price per square foot. Interesting though is that while the YTD market is up over 10% in sales, October 2015 is down 11.5% in sales from October 2014, the first month over month decline of the year. 135 homes sold this time last year for the month of October versus 121 homes this year. Let’s take a quick look a the mix of inventory sold; 44% of YTD sales were homes sold at $150,000 or less; 37% were homes sold between $150,000 and $200,000; 15% were homes sold between $200,000 and $250,000; and just 4% of all YTD sales were homes priced over $250,000. Remember that currently 83% of all buyers are using financing to purchase their home and of those, over 50% are using either an FHA or VA loan, so these are primary residence buyers and many of them are boomerang buyers (folks who previously went through either a short sale or foreclosure), and as the data suggests, many of these buyers are preferring to enter back into the market at a modest price point.