How The Real Estate Market Looks In The Phoenix Area

How The Real Estate Market Looks In The Phoenix Area

Market Snapshotl

Here in the Valley of the Sun we have seen a decided up-tick in buyer interest in every price level of homes, except those above $1.5 million. Homes between $150,000 and $600,000 saw an increase in demand of more than 33 percent. Even interest in homes under $150,000 was up 7 percent, and they were already in high demand. At the same time, the number of homes coming on the market and total number of homes for sale is down from a year ago. To find out what your home is worth instantly CLICK HERE!

What we are seeing is a market with low supply and increasing demand as we head into the peak season for buying and selling homes in Maricopa County. While you can very accurately predict what will happen if you stop running every day and start eating pizza and donuts for every meal, no one can predict what the market will do with precise accuracy. However, it's easy to project the two most likely scenarios:

First of all, if the supply of homes for sale stays down and we experience continued, elevated buyer demand going into peak season, we would see prices move sharply up as multiple offers and bidding wars return to the market -- terrific if you are a seller.

The second, and in my mind the better, scenario is that people who have been waiting to list their homes will respond to the increase in buyer demand and put their homes on the market. That would lead to an active market with good, but not crazy, upward price pressure, and all the other wonderful things a robust and healthy housing market does for the economy -- terrific for everyone. - BOB TRENT KTAR News


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Phone: 480-426-1590
Dated: April 8th 2015
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2075 S Cottonwood Dr.
Tempe , AZ
480-351-4972
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