Market Conditions

May 16, 2022

May Market Update 2022

Dramatic Market Shift

We have been sounding the alarm bells for months that the market was shifting – even if no one was feeling the impact.  In the last few weeks, the numbers are confirming a dramatic shift.  Here are the facts - rather than clickbait headlines.

 The ...

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Posted in Market Conditions
April 27, 2022

The Market Signals a Shift

“The bad news is nothing lasts forever. The good news is nothing lasts forever.”

― J. Cole

 In our last article, we speculated that the market may have peaked.   More and more signals of a shifting market seem to reaffirm our suspicions. But, as we try to ...

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Posted in Market Conditions
April 18, 2022

Market signaling a shift

The early warning signs of a shifting market continue to appear. But, as we try to remind both buyers and sellers, the real estate is not the stock market. Housing moves slowly. Shifts in demand are quicker than shifts in housing supply. So while the scarcity in supply has been ...

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Posted in Market Conditions
March 15, 2022

The Connection Between the Rental Market and the Resale Market

Most sellers are not aware that the rental market and the resale market are intertwined.  When demand for rentals are high, rental rates rise.  When it is more expensive to lease than to buy, first time homeowners buy.  That spawns a chain of buying – allowing the ...

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Posted in Market Conditions
Jan. 13, 2022

Market Snapshot January 2022

Given the unprecedented strength of last year’s real estate market in Phoenix, a slowdown feels long overdue. But thanks to supply remaining stubbornly low (2022 began with the lowest number recorded), the expected cooling off is not showing up just yet.  We saw some early weakening of the market ...

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Posted in Market Conditions
Dec. 16, 2021

Hello 2022

We hope you all had a wonderful holiday season. 

 As our year begins it is appropriate to take a quick look at where we have been and where we may be headed for 2022.  2021 saw one of the strongest seller real estate markets ever.  What began ...

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Posted in Market Conditions
Dec. 15, 2021

Final thoughts for the 2021 market

As our year heads to a close, here is a quick look at where we are and where we seem to be headed for 2022.  2021 saw one of the strongest seller real estate markets ever.  What began in the tail end of the 3rd quarter of 2020 ...

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Posted in Market Conditions
Nov. 15, 2021

The Upcoming Valley Real Estate Market

It's tough to make predictions, especially about the future.” Yogi Berra

 It’s the time of year where 2022 housing market predictions begin to appear. Zillow weighed in with their prediction for a national pricing rise of 14-16%.  But then again, these are the same people ...

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Posted in Market Conditions
Oct. 18, 2021

Signs of a Cooling Market

Signs of a cooling market

 

The Phoenix housing market is cooling, but it is far from cold.  Here are some interesting numbers from the Cromford Report.  From April 1st to October 1st, the number of homes for sale in MLS rose 92% going from 3,591 to ...

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Posted in Market Conditions
Oct. 11, 2021

Market tidbits

For those hoping for a rebalance of the market (we confess to being in that camp) the steady progress which had been building since April has stalled. The answer to rebalancing is more supply and July delivered in spades with a rise of almost 25% more active homes for sale ...

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