Where Have All The Listings Gone?

By
Real Estate Agent with HomeSmart SA541769000

I don’t typically do Market Reports, there are dozens of sources that specialize in reporting on both the broader market and the nuances of each region of the country. But of course, I like to keep my finger on the pulse of the market. Anyone in this business needs to stay tuned in to the ever-changing face of real estate.

Today I received a market report from one of my partners and I could not help but share this remarkable data. The report was quite lengthy with several interesting facts and figures on the state of the real estate market in the Phoenix Metro.

A couple of things stood out to me that explained in essence the current market and what buyers, sellers, and renters are facing today. I clipped out two sections to emphasize the data.

The first graphic shows six bullet points five of which are predictions that may or may not be accurate. But it was number five that held the most ammunition for why real estate has seen strong appreciation in 2020 and should continue in 2021. The number of listing in the Phoenix metro is 71% below normal!

Phoenix Predictions 1

The second graphic shows the state of the rental market across the country and once again explains why the demand for buying is so high in the Phoenix metro. With today’s low-interest rates buying can truly be more affordable than renting if you are lucky enough to find a home to purchase.

 

Rent Status

 

I will continue to keep my eye on the Phoenix market and do my best to stay in tune with current events. I just wish I had more listings.

 

Joe Domino is a Realtor® serving the Phoenix/Scottsdale area. Need more information? Or to Search for your next home, visit www.Scottsdale-AZHomes.com

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Joseph Domino

© 2010-2018 Joseph Domino All Rights Reserved

Comments (3)

Anna Banana Kruchten CRS, CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Hi Joseph yes we have inventory similiar to the 2005 numbers but for different reasons.  When I checked earlier there are only 5200+ homes that are Active.  Act fast buyers!

Jan 31, 2021 01:59 PM
Joseph Domino 480-390-6011

Act fast, and bring a lot of money.

Feb 01, 2021 09:46 AM
Brad Thomsen
Big Bear Realty - Edmonds, WA
Real Estate Services

Hi Joseph Domino 480-390-6011 

Great post

Are off market sales common in your area?

As the years go by more and more sellers ask to sell 'off market'

Happy Selling!

Brad

 

Jan 31, 2021 05:47 PM
Joseph Domino 480-390-6011

Off market sales are becoming popular. Much to the dismay of buyers. "I know a guy..."

Feb 01, 2021 09:47 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Joseph, I do market reports every month, and our new listings are down 50% from last year, and sure hope this changes here in the next few weeks.

Feb 01, 2021 05:47 AM
Joseph Domino 480-390-6011

I am hopeful (not optimistic) once COVID numbers decline it will cahnge.

Feb 01, 2021 09:48 AM

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