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.
As predicted, our real estate market prices for the 2nd half of the year have stayed true to historical norms; fewer buyers during the summer, increasing slightly in the fall.
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
United Brokers Group’s August 2018 Mid-Month Market Update
Summer doesn’t mean that we have to stay home and avoid the heat. It does mean we can enjoy some cool Ahwatukee brunch spots and avoid the heat there.
UBG July Mid-Month Market Update: 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.