This week in Phoenix real estate… Signs are continuing to point to an excruciatingly slow return to “normal” in Phoenix real estate. We saw a 16% increase in active listings compared to this time last year (WOW!!) which is a mere 61% less than we had in April 2020. Well, that was that whole COVID year, sooo. OK, a mere 70% less … [Read more...] about This Week in Phoenix Real Estate…April 18, 2022
This week in Phoenix real estate...it's not exactly news that that there aren't enough houses to go around. What might be surprising is how quickly the lower price ranges are changing. Homes on the market, priced under $400K, are down 47.6% compared to last year. However, homes priced between $400K-$500K are up 109% overall, … [Read more...] about This Week in Phoenix Real Estate – February 14, 2021
There are some real hot spots in Phoenix this winter. These Hot Spots are fueled by two things: Jobs Lifestyle There's been a lot of job growth recently in the I-10 corridor, the I-17 corridor as well as right around North Tempe and South Scottsdale. So let's use a fun bee analogy, shall we? These … [Read more...] about Hot Spots in Phoenix Real Estate
One of the biggest drivers in housing demand is population growth. Simple math here. If you have more people, you need more houses. There are essentially 2 ways people come to Phoenix - they move here or they are born here. And folks, the number of people born here is on the decline. My friends at Cromford Report, pointed out … [Read more...] about Population Pause…We Need More Babies!
Word on the street is that it's a buyer's market in Phoenix right now. Ummmm...not exactly. The answer to the question of whether buyers or sellers have the edge in the Phoenix real estate market, like a lot of questions about Phoenix real estate, it depends. Let's take a look at how the price of the house is related to who … [Read more...] about Who’s Calling the Shots in Phoenix Real Estate? Buyers or Sellers?
https://youtu.be/lfrwDv1DgqY This weekend, I submitted offers in two "bidding wars". OK. They were more like bidding skirmishes, as a bidding war these days usually garners 3-5 offers compared to the 25-40 offers we were seeing a few years ago. Multiple offer situations tend to scare buyers. But guess, what? My clients offers … [Read more...] about Bidding War? Bring It, Baby!