"Year over year" (YOY) figures are popular with many people.
Not only were the September 2008 sales figures the highest of any month in the last two years, but they also marked the fourth consecutive month of "year over year" increases.
The chart (information obtained from the Arizona Regional MLS) shows that June, July, August, and September of 2008 each had higher sales figures than the same months in 2007. It is clear more people are buying homes. What are the reasons? Here are a few:
- * Bank-owned homes and short sales that are priced very low
- * Decent interest rates
- * Investors coming back to town
- * Buyers who were "sitting on the fence" are now deciding to buy
- * narrowing price gap between "normal sales" and "foreclosure-type" sales
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