The UBG BlogGreat info on life and real estate around the Valley
It appears that owners and buyers are aware of our current, tight market conditions and yet continue to feel both positive about and confident in their local real estate market as a good investment.
What you need to know to make a better real state decision in May
Over the past several years, the real estate market has seen consecutive years of declining “for sale home inventory”, both new build and existing.
Phoenix Real Estate Market Update for April 2018: The market will continue to get tighter, sales prices will continue to go, up and interest rates (although plateaued) are not going down.
In terms of both total number sold and relative percent of all resales, demand for homes in age restricted (typically 55+) communities has nearly doubled since 2000.
Ready or not, here comes the busy season for Metro Phoenix real estate. We enter March with 6% fewer listings than a year ago and most homes still going off the market in less than two months.
Another noteworthy real estate trend is the growing appeal of community amenities. In Metro Phoenix over the last decade, demand for homes with access to community playgrounds and pools, for example, measured by the percentage of all closings, has approximately quadrupled and doubled, respectively.
Savvy buyers and sellers are also exploring their representation options. They want to know whether they’ll save more money by working with agents, going the solo/FSBO route, or using iBuyers like OpenDoor or Offerpad.