Posts from December 2021

Sold in 3 days! Sold thousands over asking price! Watching these ads may give you the impression you're getting something out of the ordinary. In this brief market update, I review the Phoenix market conditions so you have a clear and accurate picture of what's normal. Those high-dollar ads come at a price. Find out how to choose the best real estate agent when it's time to sell or purchase a home. 

Cindy Nelson is an Arizona native and Realtor with Realty ONE Group and serves the Phoenix Metro area and the White Mountain region. This includes Phoenix, Gilbert, Mesa, Chandler, Tempe, Apache Junction, Queen Creek, Gold Canyon, Maricopa, Scottsdale, Phoenix, Glendale, Buckeye, Peoria, Surprise, Tolleson, Laveen, Sun City, Sun City Grand, Fountain Hills, Sun Lakes, Goodyear, Litchfield Park, San Tan Valley, Pinetop, Lakeside and Show Low.

For Buyers: 
Does anyone know what a normal, or balanced, housing market looks like anymore?  In Greater Phoenix, the supply and demand indices have only come together twice in the past 21 years to form a balanced market.  First from 2000-2003, then again from 2014-2015.  There have only been two buyer markets recorded during that same time frame, from 2006-2009 (extreme) and a brief 3 months in 2010 (mild).  Seller markets were recorded from 2003-2005, 2011-2013, and 2015-2021. The last 18 months have been extreme to say the least.

Over the past 21 years, Greater Phoenix has been in a buyer market for a combined total of 43 months (3.6 years), a balanced market for 55 months (4.6 years)...

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