Market Update for Phoenix

What’s driving the Phoenix real estate market? Three things in particular. Want to sell your home? Get a FREE home value report Want to buy a home? Search all homes for sale At the end of the 2nd quarter of 2017, there were three things that stood out to me in terms of market activity. Here’s what’s driving the market right now: 1. Active listings are down. There are fewer homes coming on the market this month than there were last month. That 6% decrease means inventory is still very low. 2. Pending sales. Right now, we’ve got 11,394 of them, which is down from last month’s 12,431. Some of this is due to a bit of a seasonal decline in our large metro area. Some of it is related to our depleted inventory. 3. Closed sales. This month, we had about 236 fewer sales than we did in the previous month, which isn’t a very big change. It’s a notable decrease, but we are still up 8% in closed sales year over year. Homes that are priced right are receiving offers quickly. What does this mean to you? We still have low inventory, affordable homes, and homes that are priced right are getting offers almost immediately after they hit the market. If you have any questions about the market or anything else relating to real estate, give me a call or send me an email. I look forward to hearing from you.

You can listen to Market Update for Phoenix online on Radio and Podcast. Open the player on this page to stream the available audio.

Market Update for Phoenix is an episode from Kevin Langan Phoenix Real Estate Podcast​ by Kevin Langan.

The episode duration depends on the source podcast feed and may not always be available.

This episode was published on Aug 2, 2017.

Yes. Use the heart button on the episode page to add it to your favorite episodes list.

Yes. This page shows related episodes from Kevin Langan Phoenix Real Estate Podcast​ when more episodes are available from the podcast feed.