The Phoenix real estate market is undergoing a notable transformation, offering one of the most favorable environments for buyers in the past decade. Let’s dive into the numbers and trends shaping this market.
With the elections approaching, now is an excellent time to buy in Arizona. Despite rising interest rates reaching 7%, buyers can benefit from significant builder incentives, including 4% financing and up to $10,000 in concessions. The current market presents unique opportunities, as the contract ratio is low, and there’s ample supply. Sellers are offering concessions, making this a great time to negotiate. Stay informed and seize the moment!
https://youtu.be/pOD2lBUtSY0?si=EDn2gPl6lae61Cep Here is a chart for the entire US home building. Arizona has a special problem because of the population
March 2024 RE Market Update Click here for the latest Charts from the Cromford Report Welcome to my blog on
As Christmas approaches, the real estate market slows, prices stabilize despite interest rates rising. Supply and demand are shifting towards a buyer’s market. Job growth in Arizona is strong, but the Cromford Market Index indicates a decline in some cities. The outskirts, with new builds, signal the start of buyer’s markets, and rental prices are gradually dropping. The real estate landscape is evolving with both challenges and opportunities as we head into the new year.
For much of this year, the new listing counts have been extremely low—often more than 40% below the same period in 2022. We observed between 6,500 and 7,500 new listings every 28 days from May 25 to Oct 2.
Here is the updated September 2023 Market update! The current trends in the market are lessening the negotiation
Welcome to the June 2023 update on the Arizona real estate market. Despite the passage of the last few months,
Click here for all the charts from the Cromford Report Click here for charts from the MLS (a different perspective)
Here is a full list of all the charts, click here I hope this helps; please call me to know