Housing inventory is creeping up slowly. Let's take a look at our Phoenix metro real estate report for August 2021. As of August 16, there are 7021 active properties listed across Maricopa County--compare this number to our last report in May. Overall, there is still a housing shortage and based upon demand, it would likely require an increase of 5000 to 7000 homes before the market became a little more balanced. The problem is that we are still not seeing enough resale listings and not nearly enough new construction. The new construction housing shortage is due to a few factors. One,
Phoenix Real Estate Update | June 2021
This report is coming a bit early, but let's dive into our Phoenix real estate update for June 2021. The big news is that housing inventory has been on the rise the past three weeks. As of June 24, 2021, there are approximately 5625 active listings across the Phoenix metro area. Compare this to last month where there were 4887 active listings at the end of the month--this represents a 13% increase in available inventory. Redfin recently noted in their June 18 report that housing sales have slowed a bit in recent weeks. In our brokerage, sales seem to be going strong for certain types of
Phoenix Metro Real Estate Report | April 2021
Real estate sales and housing inventory across Maricopa County have increased slightly since our last report. Let's take a look at our Phoenix Metro Real Estate Report for April 2021. As of April 30, there are 4887 active listings--compare this to around 4600 the same time last month. At the end of March, there were 12,768 properties under contract and today that number is 13,105. "Coming soon" listings are about the same at 772. The average list to sale price ratio is 1.01 and this figure is holding steady in most cities, including Scottsdale. In March, the average dollars per square
Phoenix Metro Real Estate Update | March 2021
In January we reported that housing inventory levels were incredibly low--well, now we've dipped even farther. Let's dig into our Phoenix metro real estate update for March 2021. A few days ago, Phoenix metro housing inventory slid into the three thousand territory--as of March 26, we sit at approximately 4600 active listings across the county (for all product types). What's driving the dramatic decrease in available inventory? We are seeing record numbers of people moving to Arizona, but I think we're also seeing potential sellers hold off on listing because there is no place
