Posts in category 'Buyers'

In this video, I'll do the math to show you why waiting could be a COSTLY mistake! Plus, find out why home prices keep climbing in the Phoenix area despite rising interest rates. Knowledge is power ... LIKE and SHARE this video with anyone you know who wants the scoop on the Phoenix area real estate market.

Cindy Nelson is an Arizona native and REALTOR® with Realty ONE Group and serves the Phoenix Metro area and the White Mountain region. She subscribes to the Cromford Market Report and is an active Trusted Advisor University member. 

Prices Recovering, Median Up to $425K in May

For Buyers:

The sharp decline in supply for Greater Phoenix is a good reason for buyers to have a sense of urgency about purchasing a home. Since the beginning of 2023, supply counts have been declining at an average rate of 246 listings per week and since the peak in October, total supply is down 42%. At this rate, the effects of the massive supply surge last year will be erased and the year-over-year change will be negative within 6 weeks. In fact, the Valley could see extremely low supply similar to 2021 and 2022 within 7-8 months if a significant source of supply doesn't emerge.

While permits for new single-family homes dropped by 74% over the last half of last year, they have doubled since December. While tha...

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Numbers don't lie. Here is what is really happening in the Phoenix area real estate market. Find out why now is an ideal window for buyers to make a move.

Cindy Nelson is an Arizona native and REALTOR® with Realty ONE Group and serves the Phoenix Metro area and the White Mountain region. Cindy is a subscriber to the Cromford Market Report and an active Trusted Advisor University member. 

If you're looking for a buyer's market, Buckeye, Queen Creek, and Maricopa will provide buyers with the upper hand when it comes to negotiating. Here is a look at the rest of the Phoenix metro area real estate market. 

This chart shows you the Cromford Market Index (CMI). 

CMI > 110 = Favors Sellers

CMI of 90-110 = Balanced Market

CMI

As you can see, Gilbert is on the cusp of a buyer's market and Surprise and Tempe could follow within days.  This week, just 6 of the 17 largest cities in the Phoenix Metro area are statistically in a seller's market.  Two of those cities, Goodyear and Avondale, could move into a balanced market shortly. 

Overall, the demand for the entire Phoenix Metro area is currently at 81%. Supply is at 65.6%....

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