2020 was a record year. Record lows in inventory and mortgage interest rates made for ripe buying conditions and the buyers bought…in droves.
Never have I ever, in 15 years of real estate in the Phoenix AZ market, ever seen our inventory levels this low.
There is literally one months worth of inventory. That means that, if no new listings came onto the market, we’d have zero homes for sale in this big city in one month’s time. That’s crazy talk! It’s an exciting time for sellers and for buyers. The rush of winning the bid in a bidding war is one of the most exciting times I’ve experienced in all my years in this business.
To our amazing buyers that are currently with us in the trenches, wait for it. A little time and patience is all we need coupled with the tricks up our sleeve. Now is the time before the interest rates change and it’s more expensive to buy.
To our spectacular sellers that are working with us preparing to sell, buckle up, you’re in the drivers seat. In a time when you can have the pick of the litter, there are many things you still need in place to not only protect your investment but your sanity as well.
We will aptly deliver, as always.
