Phoenix Real Estate Continues to Balance
Here is a snapshot of what’s happening in our market:
- There are 11.3% MORE homes for sale today compared to a year ago, a significant increase.
- There were 12.4% FEWER homes sold last month compared to a year ago.
- We have 3.36 months of supply, which reflects a more balanced market between the number of buyers and sellers.
What does all this mean? Home buyers are being more selective in their home purchases, and sellers are needing to adjust accordingly.
Mortgage Rates Drop
The U.S. economy remains on solid ground, inflation is contained and the threat of higher short-term rates is fading from view, which has allowed mortgage rates to drift down to their lowest level in 10 months. This is great news for consumers who will be looking for homes during the upcoming spring homebuying season. Mortgage rates are essentially similar to a year ago, but today’s buyers have a larger selection of homes and more consumer bargaining power than they did the last few years.
Featured Home: Updated, 5 Bedroom Home in Desirable Camelback Corridor
Nestled near popular Arcadia shopping, and walkable to great restaurants in the area including LGO, North, Postino, and Chelsea’s Kitchen. You will love the charming courtyard. Immaculate interior with over 3100 sq ft of gorgeous travertine tile + hardwood flooring, French doors, exquisite finishes, and a wetbar to delight your guests. Stylish kitchen boasts granite countertops, a gas cooktop with hood, SS appliances, reverse osmosis, a large island/breakfast bar, and rich wood cabinetry. Lavish master retreat includes a walk-in closet & spa-like en-suite with walk-in shower & soaking tub. Sprawling backyard oasis offers plenty of patio seating, family play area, sparkling pool, and RV gate. Learn more about 3628 E. Hazelwood Street.
In addition to 3628 E. Hazelwood Street, I have many featured properties for every lifestyle. See all preferred listings here.
In Case You Missed It: I am now part of Lucido Agency
My mission is to help people move, FORWARD, by delivering exceptional service and tremendous value. Which is why I’m excited to announce that I’m the new AZ team leader of the #1 producing team in the world, the Lucido Agency. Ask me how our abundant resources and talent can benefit to you today!
Phoenix a Hot 2019 Housing Market, Report Says
Phoenix’s housing market is set to keep up its healthy pace into 2019, according to Realtor.com. The real-estate website included Phoenix on its list of top markets for homebuyers in 2019, where it ranks No. 5. Realtor.com forecasts the region’s market will post sales growth of 3.6 percent this calendar year, along with price growth of 5.6 percent. Read the full article here.