ARMLS this morning shows there are currently 19,280 active listings which is down even further than the 27,400 described in the article below. The short term outlook is for a shrinking inventory which in turn will drive up prices. This market has many moving parts but one thing is for sure, this is an unprecedented opportunity to purchase real estate at historically low prices and interest rates. So if you are a potential first time buyer looking to get a foot in the market, a new or seasoned investor, or someone with recovering credit because of a prior foreclosure or short sale during the crash, now is the time to make the move!
This article does an excellent job of describing the ever shifting dynamics of the current real estate market in metropolitan Phoenix:
Feel free to contact me today with any questions.
Chris Spalding (602-312-7237)