The Housing Market Shifts Slightly Towards Sellers 2024 began with a slight advantage for home sellers.  Why?  December typically ends with less active listings every year as a number of listings expire on the 31st.  Additionally, we saw a little bump in buyer demand as interest rates became more attractive.  Those two small changes pushed...

With very few exceptions, the housing market begins every year with a question:  what will this year’s housing market bring?  The truth is that projecting beyond a few months enters one into the field of guessing, as there is no real estate Nostradamus.  But there are data points (courtesy of the Cromford Report) that tell...

Market Balance “The bad news is nothing lasts forever. The good news is nothing lasts forever” J. Cole The 2023 Housing Market is closing out in “balance”.  Of course that is a bit misleading – as there are parts of the valley favoring buyers (think outlying areas such as Buckeye, Maricopa, Pinal County) and others...

Market Shifts The Greater Phoenix market has been steadily shifting away from sellers.  Within a few days of this writing we will be in a balanced market overall.  Eleven cities already are balanced or favor buyers – eighteen favor sellers but are eroding. If you are a buyer – this is a wonderful time to...

𝗠𝗮𝗿𝗸𝗲𝘁 𝗕𝗹𝘂𝗲𝘀 As we approach the year-end a market shift is underway. While sellers retain a slight advantage in most markets, supply has begun to rise at the fastest rate since last year. All while demand continues to erode. Every day the strength of the market is moving in the buyer’s favor.  It is no...

𝗧𝗵𝗲 𝗨𝗻𝗽𝗿𝗲𝗰𝗲𝗱𝗲𝗻𝘁𝗲𝗱 𝗦𝘂𝗽𝗽𝗹𝘆 𝗗𝗶𝗹𝗲𝗺𝗺𝗮 It can be difficult to write about a slow moving train such as our Greater Phoenix housing market.  The market is remarkably quiet right now making poor fodder for attention grabbing headlines.  Both buyers and sellers seem content to sit on the sidelines waiting.  For what?  For a reason to act.  The most obvious...

The Valley Real Estate Market – It’s a Dry Heat The market in the last few weeks is in the midst of a slight cooling trend (a phrase that sounds like an oxymoron given the record heat the valley is enduring). This is evidenced by the slowly increasing inventory.  The seller advantage in most areas...

𝗦𝘂𝗽𝗽𝗹𝘆: Supply has been slowly dwindling all year as sellers have elected to stay put given their current low interest rate mortgages.  We have already dropped below last year in supply. As of today, the current supply of properties for sale is 11,609.  For perspective, a balanced market typically occurs with active listings at around...

Most are now aware that the low supply of housing inventory is currently the driving force in the valley’s real estate marketplace.  According to the Cromford Index, supply is down a whopping 42% from the peak of October 2022. Where have all the sellers gone?  Answer: they are staying home and hanging on to their...

𝗜𝘀 𝗢𝘂𝗿 𝗥𝗲𝗮𝗹 𝗘𝘀𝘁𝗮𝘁𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝗕𝗲𝗰𝗼𝗺𝗶𝗻𝗴 “𝗢𝗹𝗱 𝗠𝗼𝘁𝗵𝗲𝗿 𝗛𝘂𝗯𝗯𝗮𝗿𝗱”? The cupboard full of active listings for sale is starting to dwindle and trending towards bare.  According to the Cromford Index, supply is down a whopping 42% from the peak of October 2022.  Where have all the sellers gone?  Answer: they are staying home and hanging on to their low interest rates.  When will...

𝗦𝗸𝗲𝗽𝘁𝗶𝗰𝗶𝘀𝗺 𝗟𝗶𝗻𝗴𝗲𝗿𝘀 𝗗𝗲𝘀𝗽𝗶𝘁𝗲 𝗮 𝗦𝘁𝗿𝗲𝗻𝗴𝘁𝗵𝗲𝗻𝗶𝗻𝗴 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗠𝗮𝗿𝗸𝗲𝘁 “I’m skeptical that the world is round What keeps it up and what keeps me down?” ~Kim Carnes, from the song “Skeptical Shuffle”~ The average person could be forgiven for being skeptical of this real estate market.  After all, it was just over a year ago that sellers were dancing on the tables in...

The media continues to push the narrative that interest rates are killing the spring home buying season and that danger lurks everywhere. News of failed banks SVB and Credit Suisse creates fear that the banking crisis of 2007 is repeating.  YouTube “experts” claim that foreclosures are on the rise.  Yet the facts do not support...