It would be great to have a REAL ESTATE CRYSTAL BALL, especially now.
Our higher-end cities are finally experiencing strong growth
In the current, greater Phoenix residential real estate market, we have seen a slight increase in available homes due to our normal seasonal decrease in buyers.
Driven mostly by a decrease in active shoppers, typically each year we see a summer-seasonal drop in home-buying activity across Phoenix.
Residential inventory is still very tight, especially for homes under $200,000.
American’s view real estate as best investment for the 5th straight year
For right now, we are still in a strong “sellers market”
Over the past several years, the real estate market has seen consecutive years of declining “for sale" home inventory
Available residential inventory in the greater Phoenix area continues its downward trend.
Demand for homes in age-restricted (typically 55+) communities has nearly doubled since 2000.