The UBG Blog

Great info on life and real estate around the Valley

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

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

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

The Monsoon Market

We previously indicated that the major factors impacting the growth of the greater Phoenix real estate market are largely rising interest rates and shrinking inventory, especially on the low end. We also noted that our normal summer slow down appeared to be on the...

Share This