There are many great homes for sale in the Greater Phoenix Metropolitan area. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (480) 596-2900 for a FREE home buying or selling consultation to answer any of your real estate questions.
We're back with another market update for the Phoenix metro area. Today we are going to provide you with some statistics about the current state of our market and let you know what those statistics are telling us about the health of our market.
In October, 9,914 homes came on the market, bringing us to a grand total of 27,002 active listings in Phoenix. After selling over 6,200 homes this month, we are left with about a 4.3 month supply of inventory. So much for less homes coming on the market in the 4th quarter of the year!A 4 month supply of inventory is pretty healthy. There are a lot of similarities between our current market and the markets of 2001 and 2002. This is good news because those markets were considered normal and healthy.
If you are thinking of buying in the next year, pay attention to those interest rates. They have gone up slightly to just over 4%, and are expected to rise even more in the next year. Locking in these rates now, while they are low, could end up saving you thousands in the long run.
If you have any questions, be sure to give us a call or send us an email. We hope to hear from you soon!
No comments :
Post a Comment