Market Report

Phoenix Buyer Market – Aaaand It’s Gone Median Price Down $65,000 Since May For Buyers: Last year, traditional buyers took a back seat to an influx of cash investors and speculators who outbid them. Then mortgage rates increased and suppressed their po

MLS Supply Up 113% Over Last Year Median Days Prior to Contract Rising For Buyers: Market conditions continue to get better for buyers undeterred by rising mortgage rates.  Over the last 10 weeks, there has been a surge of new listings in every price p

MLS Supply Up 45% in 6 Weeks Rising Interest Rates Dropping Demand Quickly For Buyers: It’s the moment you’ve been waiting for, less competition and more supply in Greater Phoenix! Active supply is up 40% from this time last year, but all that gain has

57% of Sales are Over Asking Price Median Sale Price Up 27% to $457,000 For Buyers: Supply is still the top concern for buyers these days and we continue to look to new construction to add new homes and ease the pressure on price. The top areas for new

Short Term Rentals up 23% NE Valley MLS Rental Supply up 60% in 5 Months For Buyers: Don’t be fooled by the small increase in supply and decrease in demand compared to last year. The Greater Phoenix housing market is far from weak and will continue to

Cost to Rent vs. Buy in 2022 Owner Occupant Buyers Retreated in 2021 For Buyers: As the cost of purchasing a home increases in Greater Phoenix, the question of whether to rent or buy becomes harder to answer for some buyers.  The overall median cost of