Why are home prices going up so fast?
Normal equilibrium in Phoenix is 25,000 homes available at any one time. As of this writing, there are 3,730 homes available. Only 14% of normal. With this many Buyers jockeying to get a house, over bidding, multiple offers, bidding wars are the norm.
The strategy most used is List on Thursday, Open Saturday and Sunday, accept offers Monday, decide on Tuesday. This gets the most exposure and trains the public to jump jump jump thru the Listing Agent’s hoops.
This strategy only works is a raging Seller’s Market.
I live in Chandler, AZ. As of this writing, Chandler has 111 Active Single-Family Homes for sale. Absorption in this sub-market is 335/month. Chandler only has .3 months of Inventory. Lots of big employers are coming to the East Valley, so the demand here is incredible.
I think the smart money sells right now. Take your chips off the table. Go rent a place and wait for the market correction. With Biden’s huge tax increase coming to the middle class, that is going to help kill the housing market by killing employer’s ability to hire and retain employees. If you sell now, you lock in your profits. Then buy back in when the Biden economy is in full failure. We lived thru Biden last time; we will live thru him again this time. Don’t despair, take your chips off the table now while you still can. Don’t forget to save thousands of dollars doing so we us using the www.5kflatfeelisting.com.
If you need to buy or sell a home, see us at www.5kflatfeelisting.com. We look forward to hearing from you.
Buyers get: Sellers get:
FREE Home Inspection 5k Flat Fee Listing
FREE Termite Inspection FREE Home Inspection
FREE Home Warranty FREE Termite Inspection
Best,
Geoff Nowlin, Phoenix Realtor
480-466-3737
nowlin.geoff@gmail.com
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