For Buyers: Yes, it’s still a good time to buy. But is it fun? No. Inventory is down 61% from this time last year and competition among buyers is steep. New listings are not keeping up with demand and the purchase experience can be stressful, disappointing, and heartbreaking; but it’s a good time to buy. The … [Read more...]
Local Metro Phoenix/Mesa/Scottsdale Updates
WHAT LIES AHEAD... As you may know, inventory levels are razor thin. There are about 388,000 single family homes listed for sale out of about 84 million in the U.S. That’s historically low, not even a tenth of a percent (.0046%). In 2015 listed home inventory was almost three times what it is … [Read more...]
Is the Arizona Real Estate Market Going to Crash in 2021?
2020 was anything but typical—and not in a good way. From a worldwide pandemic and related economic uncertainty to a tumultuous election, most of us were ready to lock the door and throw away the key when the calendar hit 2021. But one thing is for certain; the Phoenix housing market has been booming in recent months due … [Read more...]
3 Reasons to be Optimistic About the 2021 Real Estate Market
3 REASONS TO BE OPTIMISTIC ABOUT THE 2021 MARKET BY SCOTT CASTILLODECEMBER 31, 2020 2021 was an all around tough year. Although the Covid-19 pandemic brought the market to a near standstill for months, a quick recovery soon emerged as many homeowners reevaluated their space and what they need in a home going into … [Read more...]
Demand For AZ Homes is up 36%!
For Buyers: The Rent vs. Buy scenario has become heavily in favor of buying over the last 5 months. Eviction moratoriums due to the pandemic have greatly reduced turnover rates in a rental market that is already short of supply. Lease rates on listings through the Arizona Regional MLS have increased … [Read more...]
Median AZ Sale Prices Up 18%
For Buyers: A common complaint in the resale market is “there’s nothing for sale”. However, from July through September, the Realtor® community added 30,340 brand new listings to the Arizona Regional MLS and sold 27,746, leaving just 8,203 remaining listings for sale. That makes this 3rd Quarter the 2nd best in … [Read more...]
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