Holy Smokes New Listings are Way Down in Phoenix AZ - 2012 Market Trends
Phoenix Real Estate Market is Hot and getting Hotter. Phoenix Home buyers have to compete with multiple bidders. Phoenix Home sellers are seeing a slight rise in home selling prices. So is this a good thing for the Phoenix Real Estate? Hello? Are you kidding? Finally we seeing some light at the end of this very long tunnel everybody has been stuck in.
Every day, and I mean every day I'm getting asked these same real estate questions. 
What happened to all the houses on the market? Why do I have to make my highest and best offer right out of the gate? Everybody told me there were tons of homes to chose from, where are they and why are they sold in a flash?
By looking at the chart below, notice that so far in 2012 our Greater Phoenix New Listings Numbers are down....way down. If fact they're lower than any other year since 2001. And on today's date March 14, 2012 there are a total of only 3,060 new listings.... and the month is half over.
Is this a good time for sellers to be considering selling their home? Yes. But, we still have the serious issue of many home owners being underwater on their mortgage so that may prevent them from selling at this time. For other Phoenix homes sellers that have been sitting on the fence for years....and I mean years, now is the time to consider selling and buying that dream home or right sizing into a new home to fit your current lifestyle.
Is it a good time for buyers to be buying a home in Phoenix. Yes. Prices are still very low and interest rates are holding steady. It is very important to work with an agent that knows the market and can guide you in making an offer under these hot market circumstances. You may very likely be up against multiple bidders in the under 400k range - that is of course if the home is in good condition, good location and priced correctly. A top notch agent will run the comparables in the market and quide the process for you.
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Real Estate and Working with my Clients is my Passion!
I take my clients trust in me very seriously. I'm known for 'telling' it like it is, not what folks might want to hear or think it should look like. Now that may sound kind of tough, but think about it, in the long run if you want to buy or sell a home you need to know the real facts in order to make a wise choice.
If you want the truth and the whole truth, I am the
Phoenix Real Estate Broker for You.
When you are ready to buy or sell a Phoenix Area Home, I will be your advocate, guide, and fierce negotiator. I will work hard to make your buying or selling a home as smooth and stress-free as I possibly can - even if it's a short sale. Guaranteed.
Call me and we'll create a plan of action to buy a home or sell your home!
Sincerely,
Anna 'Banana' Kruchten
602-380-4886
Real Estate New Listing Chart courtesy of Cromford Reports
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Anna 'Banana' Kruchten
Owner/Broker, CRB, CRS, GR
Certified Real Estate Instructor
Phoenix Property Shoppe
602-380-4886
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14 Comments on Holy Smokes New Listings are Way Down in Phoenix AZ - 2012 Market Trends
Anna - we were writing about the same thing at the same time! It's amazing the number of multiple offers that exist in our market. After leaving the office in Scottsdale tonight, agents were sharing with me their stories. And it's simply amazing. The number of listings is dropping like a rocket. Since Friday, the number of SF homes dropped yet again. Buyers are chomping at the bit and I'm checking the reports every morning. It's time to be a listing agent or compete with all the other buyers agents!
Hi Anna, It's a Great Time for both sellers and buyers in Phoenix, according to your Market Trends Report. Rates have never been better for buyers, and sellers should be getting more offers on their homes with that low inventory.
Anna
Wonder if the expected REOs from the Mortgage Settlement Act will have any impact, at least in terms of increased inventory? It's got to be a frustrating time for buyers, especially those non-cash buyers. It's a challenge here as well.
Jeff
Anna - I'm with Jeff ... and of course any straw in the wind just causes more uncertainty. I will observe that the volume of BPO requests has gone up a great deal in our area since the settlement was announced. All we can do is stay focused and stay current!
Lower than any year since 2001! That is amazing and wonderful news! Now you need sellers to get on board.
Anna - Awesome news for the Phoenix area! Love it when the market is hot!
Anna - wow, looking at your chart, that last column just drops like a rock, doesn't it? It will be interesting to watch and see if it's just a blip and spring brings a jump in new listing, or if it's a lasting trend and Phoenix is balancing out (or leaning towards a seller's market!). Meanwhile, have fun with the change in the market! :)
Hi Anna ~ It's great to hear that the Phoenix market is changing ... in the right direction! It's happening here in Portland, too. By the way, I watched your excellent video and am impressed with your marketing techniques -- but it's easy to see why you're so successful. You're so friendly and you're open to changing how to sell real estate in challenging times. It's good to hear that AR has had such a positive impact on your exposure to the local market.
If I lived in Phoenix you'd be my first choice in Realtors for sure!
Anna,
LOVE your fabulous news about Phoenix and how well you present it in the listings per month chart. Great info and wonderful to have such positive news. We are seeing a similiar market in Atlanta aka HOTLANTA!
All the best, Michelle
You have been talking about this Hot Market for a while now. The numbers really tell the story. Amazing turnaround.
That's a great visual, Anna. It seems like many parts of the country have that same phenomena--we do here, from San Francisco, down the Peninsula to the Silicon Valley. Buyers ready to go, but not enough inventory.
Hello Ms. Banana. Same thing happening here. I can't tell you how many offers I have to write for buyers before they get accepted. If ever there was a time to list - this is it!!!!
Good Evening ANNA, It is similar here as listings are way down and sales are way up. I love your blog and it's eye catching graphs. Have a great night.
Howdy and evening Anna
Anna my friend, this is a mighty fine looking and written Market Trends Report for the Phoenix area. Folks sure will find it mighty easy to understand and helpful.
Have a good one
Dale in New Hampshire
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