Mesquite Insights

Mesquite, like many other communities, is experiencing a "soft" real estate market.  And in most subdivisions, prices have adjusted downward.  Buyers have been more discriminating in their purchases, and price has become a critical issue.

Real Estate is very much a Supply/Demand business.  While supply of resale homes remains near recent highs, demand has been growing.  Recent sales are up over 30% during the last 6 months.  This trend stongly suggests that we are seeing the bottom (or near bottom) of property prices. 

As we move forward into the busy fall season and into 2008, it is anticipated that the inventory of existing homes will fall and prices will again start rising.

What do you think?