Oh, My Gourd! Fall is Here and The Market is Great!
It’s that time of year again and, if you ask me, it is the BEST time of the year. Growing up in Utah I always associate October with long drives down Spanish Fork Canyon as the leaves all start changing colors. I could list off all the great things I love about Fall, but most of all it comes with an overall sense of calm and cozy before Christmas madness hits and the New Years Jitters roll in.
In Real Estate the fall is also associated with slowing down. Spring and Summer are typically the hot months for The Real Estate Market. Most families want to move during the summer when school is out and the transition is a little easier on children. However, as the cool air rolls in the market slows down and with it, we get longer days on market and lower inventory.
September 2019 was a great month in the Phoenix Valley! Over 5,400 homes sold in Maricopa County and the Average Day on Market is 57 Days which is an 11% decrease from September 2018. Interest rates are LOW and Buyers are taking hold of the opportunity, unfortunately, the inventory is so low that homes are hard to find.
Single-Family Homes around $250,000 are a hot commodity! We are seeing these homes come on the market and received multiple offers within 24 hours. This is proof that there is a shortage of homes. Sellers who have been on the fence about selling and Landlords ready to move on to other investments are seeing this and taking advantage of the market.
The News will have you believe that the market is failing and that a recession is soon to come, but that is not true. While we are keeping an eye out for a possible market slow down in 2020 that does not mean we will see anything like we did in 2008. We are smarter and we have learned from our mistakes, if there is a slow down it will be minor and we will get back on our feet again. The Phoenix Housing Market is one of the best in the country and that is not going to change!
Don’t Fall Victim to Clickbait! Negative Headlines and Doomsday Market Predictions will get more clicks and interest than Positive News which is why News Networks and Blogs go for the Scary Headlines. If you are looking to Buy or Sell your home this Fall Season or you are looking to get started so you can make a move in early 2020 DO NOT HESITATE! The market is in great condition and I am happy to extinguish your doubts and help you plan for your future!