For the first time in three years, Phoenix home inventory has dropped to below 40,000 properties across the Valley! The improvement varies and is seen from city to city whether you are looking at Chandler homes, Ahwatukee homes, Maricopa homes, Glendale homes, or anywhere in between.
This is incredible to see. In a sense, we have seen a rapid decline in inventory from roughly 52,000 properties Valley-wide in January to 39,500 Phoenix area homes now, an amazing 24% drop!
This is impressive improvement in our market simply driven by increased buyer demand. This is simply the strongest change toward market normalization that we have seen in a very long time. Having said that, we still have concerns for additional foreclosures in the future as the Fannie Mae and Freddie Mac moratoriums terminated on March 31st.
Nonetheless, if you are thinking about purchasing a home in the Phoenix area, contact us to set you up on a customized search portal. Despite the competition for homes where multiple offers are becoming more commonplace, we have tactics and strategies that can help you win the property you really want.
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