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Posts from December 2024

Cindy Nelson AZ REALTOR Blog

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Buyers | 13 Posts
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English
December
15

by

It's a Buyer's Market, Will Prices Drop?

For Buyers:

The buyer's market in Greater Phoenix is still young at just over 5 weeks old but isn't getting worse thanks to supply stabilizing over the past two weeks. For some, this scenario brings anticipation of a decline in sales prices, however there's more to this buyer's market than meets the eye. There have only been 3 other buyer's markets in Greater Phoenix over the last 25 years, and they are all unique in their circumstances and thus give us little to compare with our current market.

What can we expect in terms of price trends today with our new baby buyer's market? That depends on how long the market stays friendly towards buyers. Sales price is the last measure to respond to a shift from a seller advantage to a buyers advantage. The first measure to crack is the seller's asking price. When that doesn't improve buyer interes...

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Categories: Buyers
Tags: Buyers, Sellers, market update, affordability, supply, News, Arizona
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