Market Conditions

Jan. 19, 2023

Market Snapshot January 2023

Why a Balanced Market feels so Unbalanced

 

 Most buyers and sellers would be surprised to hear that the greater Phoenix real estate market is “a balanced market” at the moment.  But it’s true.  Why doesn’t it feel that way?  We think it feels unbalanced primarily ...

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Posted in Market Conditions
Dec. 19, 2022

Market Snapshot December 2022

Silent Night

The real estate market is eerily quiet as 2022 comes to a close.  After years of record setting numbers, which culminated in the 1st quarter of 2022, the shift came swiftly and sharply in the 2nd quarter.  Demand dropped precipitously after interest rates spiked ...

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Posted in Market Conditions
Nov. 14, 2022

Real Estate Reality

By now most are aware that the greater Phoenix market began the year as a seller’s market, then balanced market, and now has slipped to a buyer’s market.  As we often repeat,  real estate markets are local (meaning national statistics are not reflective of what is happening locally ...

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Posted in Market Conditions
Nov. 1, 2022

Market Fact vs Fiction

Much has been written about the greater Phoenix housing market and even more about the national housing market. The first thing to remember is housing is local.  Following  the national trends while interesting (misery loves company), is anecdotal. Shocking headlines and clickbait may increase readership, but is of ...

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Posted in Market Conditions
Oct. 14, 2022

October Market Update

Market Blues

 After such a wonderful start to the valley’s real estate market in the first quarter of 2022, by contrast the 4th quarter has started in the doldrums.  It is easy to place the blame – interest rates hitting 7% - therefore reducing both buying power and ...

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Posted in Market Conditions
Aug. 30, 2022

Balancing Act

A Balancing Act

 By now most homeowners have heard the news “the market has shifted”.  While that is true, as usual the story is more complex.

 In the first quarter of 2022, Sellers held every card.   Now they are handing them back one by one.  ...

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Posted in Market Conditions
Aug. 23, 2022

Current Market

Gary Keller …The current market is 'the most confusing I've ever seen…

 

There’s a lot to worry about in today’s market — coronavirus infections are near 2021 peaks, health officials are ringing the alarm about monkeypox and polio, inflation and mortgage rates are steadily climbing, home sales have ...

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Posted in Market Conditions
Aug. 16, 2022

August Market Snapshot

The Balancing Act

 The greater Phoenix market continues to shift to rebalance.  The emotion of the market has shifted from greed to fear – which in our opinion has been the driving force behind the market’s unusually fast shift.  But not all areas and price points are ...

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Posted in Market Conditions
July 18, 2022

Good bye seller market. Balanced market is that you?

News has spread about the shifting market - largely driven by spiraling interest rates suppressing demand.  That was a wakeup call to sellers who began rushing to place homes on the market.  While the shift in the market was not unexpected, the velocity of the change was.  We ...

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Posted in Market Conditions
June 23, 2022

The Market's Dramatic Shift

 

 “Only when the tide goes out do we discover who's been swimming naked"

- Warren Buffet

 It is a sobering time for the housing market.  The last two years has been like an unending drunken party.  Home Buyers enjoyed record low interest rates making home ...

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Posted in Market Conditions