The coronavirus or COVID-19 has taken everyone by surprise and the effects of this pandemic will not be totally understood for months or years to come. However, we can see the effects of this virus on Phoenix real estate in the past month, and where things will go in the next 30 – 45 days. To understand the cumulative effects and future path, keep reading.
We’re now entering a new decade and putting behind us another year. Every year there are predictions about what is happening in the Phoenix real estate market. Continuing price increases, inventory trends, cash investors displacing first time home buyers, foreclosures creeping up again. These are just some of the topics that everyone with an interest in understanding Phoenix real estate trends would like to know about. If you fall into this camp, keep reading.
Real Estate Market Update for First Half of 2019
If you are wondering how things in the real estate market have started in 2019, I’d like to share some information with you. Are short sales and bank owned properties coming back? How often do sellers contribute toward buyer closing costs? And what has been happening to residential rental lease rates?
Check out the video below to have these and other questions answered.
Was there something that I missed or didn’t get answered? Please let me know and it may be the subject of my next video,.
The past 2 years have provided Phoenix area homeowners with double digit gains, and the market has been in the sellers’ favor. But with higher prices and more sellers looking to take advantage, the balance between buyers and sellers is shifting. Distressed sales (short sales and foreclosures) which were a favorite of investors continue to see significant decreases. Are foreclosures coming back? Will more houses sell in 2014? How long will it take to sell a home in 2014? Are inventory levels still low? Continue to read for answers to these questions.