Market Stats, Schmarket Stats

Happy February!

Is it just me, or do you feel like you're seeing a TON of real estate market stats being thrown around lately? Graphs, charts, and analytical profiles everywhere we look. While it's super important (to me, for sure) to keep an eye on what the trends are, lately I feel like we're just drowning in market information.

Here's why...It's crazy out there. Yep! You've heard me say it a million times, and it looks like I'll be saying it a million more. What do all of these colorful charts mean, you ask? I'll break it down for you.

1- Not enough inventory: many sellers are putting their plans on hold for a bit, or staying put for the long haul. When sellers ARE selling, the homes are going FAST, with MULTIPLE OFFERS, and well ABOVE ASKING PRICE.

2- Buyers are still buying: whether they NEED to or WANT to, buyers are still looking to buy. Many are looking to find a home with the extra space now needed to work from home, exercise at home, get the kids on line for school at home. There is also a TON of growth going on in the Phoenix job market, so people are still moving here in droves.

3- Interest Rates (for the time being) are still very low: this is giving buyers the ability to stay in the game, keeping mortgage payments reasonable. In addition, these low rates are allowing current homeowners to refinance their existing mortgage at much lower rates and save a significant amount of money every month (if you're not planning on selling any time soon and your current rate starts with a 3 or higher, you may want to look into refinancing before rates increase). FYI I work with various fabulous lenders, if you need to talk with one. Let me know and I'd be happy to send you their information.

4- No predictable slow down: It's true. Phoenix is currently: the 5th largest city in the US, #1 for population growth rate and migration, #3 in the US for economic growth and is the 3rd fastest growing state. Maricopa County, incidentally is the 1st in the country for attracting and retaining top talent.

It's a lot to wrap your head around, right? Does it make you a bit fearful to get in the game? Well, don't panic. I say "Market Stats, Schmarket Stats"! I live for this stuff!! It just forces me to get more creative, because I love for my clients to WIN!! If you or anyone you know are looking to buy or sell, you know I'm here to help. I have proven strategies for either side of the transaction, and will make the entire process as stress free for you as possible.

For those of you who just can't get enough of the charts, graphs and visuals, you're in for a treat. I'll attach a bunch for you below.

As always, contact me for anything. I'm always happy to help!

xoxo,

Andrea

You're welcome!