Before long you will be coming across an article showing real estate sales have declined in the Phoenix market. Recent stats that came out this week showed a decline in sales activity. Is this a warning sign of a cooling market? No in fact the opposite is true, we have a lower supply in the market and have seen our year or year price increase on average of+7.5% year-over-year while the year-over-year median sales price is also up +5.4%. To many of us living in the Phoenix metro area we are amazed at the rising price of the lower end of the market -those home under $200,000. Supply is exceedingly tight in that area, and experts have recently described the market for those homes as frenzied. If you are a home owner, sit tight and enjoy the appreciation. If you are looking to buy, be prepared for fewer homes on the market to choose from. In either case, our market is still healthy with a 2.7 month supply of listings.