I’ve been getting a lot of questions lately about the stock market and how it will affect home values as we continue into 2015. Today we are going to talk about the stock market, along with last month’s real estate market recap, to show you how they are intertwined.
When looking at the numbers for August of 2015, you can see we had 8,755 homes on the market, which was up from 8,390 in 2014.
Our active listings are sitting at 21,858 vs. 26,066 at this time in 2014. That is a 16% decrease in homes for sale! As for the number of sales last month, we had 7,092 compared to the 6,462 we had in 2014.
Between interest rates being near 4% and active inventory being down 16%, now is the perfect time to sell. There are less homes on the market, you can buy cheaper with low interest rates, and buyer demand is just starting to pick up.
Now, to talk about the stock market. Things have been pretty bumpy the last few weeks, and people have been asking us if we can expect a market correction coming soon
While we can’t say for certain that we know what’s going to happen, what we do know is that it’s a great time to sell and move while rates and inventory are low, giving you the best opportunity to sell your home for top dollar.
If you have any questions for us, or are thinking about buying or selling in Phoenix, don’t hesitate to reach out and give us a call. We look forward to hearing from you!
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