With the real estate market experiencing surging prices, very low inventories, and a backlog of new home construction, many consumers are wondering if what’s gone up must come back down — in other words, are we headed for another housing market crash? Let’s take a look. Memories of the Great Recession Are Still Fresh Few people foresaw the housing market crash 15 years ago that … [Read more...]
Greater Phoenix Area Real Estate Snapshot – April 2019
Phoenix Housing Market Stats April 8th, 2019
Inventory is under a 3 months supply (Above 3 months keeps things moving nicely on both sides, 4 - 6 months supply is a balanced market between buyers and sellers), so properties are moving fast. Our average closed DOM (Days On Market) is 71, especially under the $500k luxury market, the average sales price is up 3.9% from this time last year, which is a good steady increase. Contact us with any … [Read more...]
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