Phoenix Real Estate Market Update November 2018

Phoenix Real Estate Market Update November 2018

The residential real estate market has continued to slow gradually, due mostly to rising interest rates and prices. All activity, including “declining listings under contract”, “increasing days on market”, and a generally more discerning buyer, is the result of our market continuing to move toward a better balance between buyer and seller.

Phoenix Real Estate Market Update October 2018

Phoenix Real Estate Market Update October 2018

While still a seller’s market, available resale inventory in the greater Phoenix area continues to increase, and price appreciation has either paused or moderated. Inventory as of October 3 stands at 16,819 versus 18,161 for last year, down 7.4%, but up 3.7% from 16,222 last month.

September Market Update

September Market Update

The seller’s market of Phoenix is being driven by the ongoing short supply of inventory. The increasing inventory numbers have resulted in a larger number of seller price reductions