Metro Phoenix Is Outpacing The Nation

If you've been watching the headlines, you've probably noticed there's been a lot of mixed messaging about the real estate market. Some reports make it sound like everything has come to a halt, while others say the market is picking up steam. The truth? The numbers tell a much different story.

Metro Phoenix is actually outperforming the national housing market. Home sales in June increased more than twice the national average (8.1% locally while increasing only 3.2% nationally), and while prices have remained remarkably steady, buyers are slowly gaining confidence again. That's good news whether you're buying or selling here in North Phoenix, Desert Ridge, Scottsdale, or Cave Creek.

For buyers, this is one of the better opportunities we've seen in quite some time. Home values have remained stable, inventory is still giving buyers more choices than we've had over the past few years, and sellers are often willing to negotiate on price, closing costs, or even interest rate buydowns. Waiting for the "perfect" market has rarely been a winning strategy. Instead, today's market is rewarding buyers who are prepared and ready to act when the right home comes along.

For sellers, don't mistake a slightly longer market time for a weak market. Homes that are priced correctly, marketed professionally, and presented well are still attracting strong interest. Take Scottsdale, for example. Closed sales are up 13.4% this year, and prices have increased another 2.4%. That's a pretty good indication that buyers are still out there when the right home hits the market. Buyers are simply being more selective, which makes preparation and pricing more important than ever.

The bottom line is this: our North Valley market continues to be one of the strongest in the country. Every neighborhood has its own story, and that's why relying on national headlines can sometimes lead you in the wrong direction. If you're thinking about making a move in the next few months, let's sit down and look at what's happening specifically in your neighborhood so you can make a decision based on facts, not fear.

Source: Metro Phoenix Outpaces the Nation in Home Sales