Phoenix real estate market trends continue to attract attention from across the nation. Known for our steady job growth, warm climate, and vibrant communities, the city stands out as a top choice for individuals and families seeking both opportunity and lifestyle.
Yes, it's possible to sell a house in Arizona without a Realtor. “For sale by owner” listings are fairly common, but if you're considering one, make sure you're prepared for how much work you'll have to put in.
The worst month of the year to sell a house is October, with an 8.8 percent seller premium, ing to ATTOM. That's sandwiched in-between September and November, both of which come in at 9.5 percent. Of course, if you're a buyer, the opposite holds true: The cooler months can actually be a hot time to house-hunt.
Yes. Though the number of homes available in the metro Phoenix area has increased year over year, more inventory does not necessarily mean there is sufficient housing to accommodate all buyers and renters.
The housing industry changed after the 2008 recession. In the early 2000s, an average of around 40,000 per year were built, with a peak of 48,700 in 2005. After the recession, the number of units built dropped to 6,600 in 2011 and has been increasing since then, reaching just over 35,000 units in 2023.
The metro's proximity to the Ports of Los Angeles and Long Beach, combined with lower operational costs, has made it a critical distribution center for the Southwest. Phoenix also leads in current construction activity, with nearly 19 million square feet of distribution space in development.
Agents operating in your local neighbourhood have a wealth of knowledge when it comes to data like recent sales for comparable homes within your specific area, market trends and property values. This is invaluable when buying or selling.
Local lenders typically are easier to work with and are more available by phone. The big box brokerages typically have a call center and it can cause issues especially if you're in a competitive market.
MLS access is only available to licensed real estate agents and brokers and is designed to safeguard sensitive details like sellers' and buyers' personal information, security codes, and showing schedules. This exclusivity also stems from the financial costs associated with maintaining the MLS.
The obvious first reason is that they know the area. Not just from the perspective of someone who has worked there or sold some houses there. A local realtor will know the businesses in the area as well as the schools. They will know the best dog parks and the special places where the locals like to hang out.