Here's what we're seeing in the market these days:
With buyers and sellers focused on the holidays, the downward trend we are seeing is very common for this time of year. Although the numbers (in terms of inventory) and sales price are not in favor of buyers, hopefully buyers will see some new and rising inventory just around the corner (January/February). On a positive note for buyers, this is still an amazing time for buyers to take advantage of record low interest rates especially with the Federal Reserve acknowledging that they plan to raise rates (more than once) in the upcoming year.
2022 is forecasted to be a seller’s market, albeit a weaker one than we have seen in 2021. Sellers should continue to avoid overpricing their homes because numbers indicate a direct correlation between overpriced listings to higher concessions to buyers and higher days on the market. Overall, Arizona is still seeing record numbers in the real estate market and experts do not see a “cool off” in the near future.
With over 230 people moving into the metro Phoenix area a day. Competition for homes, condos, townhouses are still around... if you will be in the market to buy or sell a home Team Beery would be happy to help out! Contact us to get the process started! ❤ 602-644-1416 or firstname.lastname@example.org