April 2022 Our Phoenix Market is still favoring Sellers.

April 2022 Market Update & Other Good Stuff From Your Realtor, Lisa Racz

Our Phoenix Market is still favoring Sellers however, demand has declined in response to recent increases in interest rates.

30 days ago, buyer demand was 12% above normal now it is 6% above normal. In just a few short months, the average interest rate has gone up from 3.1% in December to 4.7% by April. This has added a $500 increase in the estimated payment on a 1,500 – 2,000 square-foot home.

Rates are expected to continue to rise through 2022. This does not mean the market is at its peak, or at the precipice of a price decline. We will not see a flattening in sales prices until there’s an upward shift in price reductions or seller concessions.

If you have questions about the market, whether you are considering buying or selling reach out I am always eager to chat.

The Brian Buffini Show

“It’s a good life” podcast

S2E27 Giving You My Best Part 1

If you want to deal with the heartache, difficulty and stress of today’s world, you have to have faith. In part 1 of this episode, Brian shares the three types of faith that help him handle all of life’s challenges.

YOU WILL LEARN:

Why faith in God is so important to him
Why you must always have faith in yourself
How faith in others pays off.

Click here to listen

Banner Poison and Drug Information Centers warns of increased rattlesnake, scorpion activity

As temperatures rise, the likelihood of encountering rattlesnakes and scorpions increases. It is important to be prepared in the event of an encounter.

Visit our website

Baseball is Back!!!

Game Schedule to add to your calendar

Here is the Phoenix commercial and real estate outlook for 2022

More than 24 million square feet of industrial construction is underway across Greater Phoenix, with approximately 30 million square feet completed in 2021. And more than 32,000 new multifamily units are under construction or were completed during the year. While the brokers, developers and builders remain bullish on the Phoenix market heading into 2022, one of the top concerns is supply chain delays. Manufacturers are still not at full capacity and product delays could continue well into 2023.

“It’s difficult to look out to 2022 and 2023 and not consider the impact of supply chain issues, inflation and labor shortages,”