Home availability is getting lower and home values are continuing to go up!

It's April 27 and in Phoenix, Arizona there are just over 13,000 listings in the multiple-listing-service (MLS).   

This is down from around 22,000 listings in December when everyone was trying to sell their home but still up from around a year ago when the number of listings was close to 5,000.

There are a lot of factors that contribute to low inventory. Record low interest rates in recent years have cemented home owners in their homes because they don't want to sell and lose their great rate. Many home owners we talk to can actually rent out their property and make an extra $1,000-$2,000 per month! 

Another reason why there's low inventory is that Phoenix is STILL MORE AFFORDABLE than many other cities.

Another reason is tech companies are moving into town and they're bringing thousands of higher earning workers. 

The housing market isn't contracting as much as everyone on social media is claiming and if you're waiting to jump in when the "market crashes", you'll still going to be competing with tends of thousands of other people who are thinking the exact same thing. And what that basically means is - the crash you're waiting for is not going to happen. We saw that "crash" back in December so if you're interested in getting into a home, reach out and we'll set you up with a search in the MLS so you can get notified of any homes hitting the market that match your criteria.

Talk soon!

Clifford