Shrinking Inventory
Lack of inventory continues to squeeze buyers
A Drop in Interest Rates
Residential real estate in greater Phoenix continues to see price appreciation
Tracking the Phoenix Real Estate Market
May continues our listings and sales resurgence for the greater Phoenix area.
Home Sales Continue Their Rise
The monthly median sales price for greater Phoenix is up 4.6% year over year to $266,000, so buyers and sellers should still expect a relatively competitive market.
Spring Buying Season
This month marks the first full month of our annual, spring buying season.
Market Trends
Prices are still going up but at a much slower rate.
A Market in Flux
Home supply is still below average, and demand for homes is well below this same time last year.
Beginning of Phoenix Buying/Selling High Season
Although rates had been forecasted to rise throughout 2019, current rate forecasts have become less certain.
