What you should expect from the current Phoenix real estate market.

When we look at the current Phoenix metro area market, there are a couple of different things that come to mind. The news is saying that the market is falling and the world is coming to an end, but I’ve been in the market for 20 years, and I can say that we’re actually in a good spot at the moment.

Inventory is rising. We had about 4,000 homes for sale in the metro area at the lowest point, and now we have about 17,000. What’s causing this? First, sellers were holding off while prices continued to rise; then, when the market peaked, everybody put their house on the market at the same time. Additionally, interest rates have gone up so it’s more expensive for buyers to purchase. Now is a fantastic opportunity both as a seller and as a buyer.

“Buyers now have many more choices than they had before.”

In the last year, many markets have appreciated by about 30% to 40%. This is exacerbating buyer fatigue, and that level of price increase was not sustainable. Sellers are looking to capture those gains to buy their next home. Meanwhile, buyers now have many more choices than they had before. The homes that show well, are priced well, and are staged well sell quickly and at high prices. 

I’ll be happy to sit down with you to answer all of your questions and show you how to put the most money in your pocket. Reach out to me by phone or email. I look forward to hearing from you.