For the 1st time since 2010, Greater Phoenix is officially in a Buyer’s Market. In mid-November, the City of Phoenix entered a Buyer’s Market as anticipated, thus classifying our entire market as such.
As we enter 2023, it is expected that contract activity will increase as it does seasonally every year, even if mortgage rates remain the same. In the first half of the New Year Sellers should see more showing traffic, fewer days on market and serious buyers which is good news for Sellers after a long 4th quarter.
My advice to Buyers in our current market is to stay connected with me and I will make sure to continue to educate you on market conditions and can also connect you with a lender who is knowledgeable on loan different programs and seller incentives available. Give me a call to chat.
