Our market cooling off? Or is this just a bump in the Real Estate road

By
Real Estate Agent with Arizona Elite Properties SA545073000

 The Valley has been one of the hottest real estate markets in the U.S. The Greater Phoenix housing market is extremely strong this year. It is a metropolitan area, centered in the city of Phoenix, which includes much of the central part of Arizona. The Phoenix real estate market has not only recovered after a slump due to COVID-19 but the demand has reached new heights. The Case-Shiller house price index, which measures repeat sales, was up 31.3% over the year in Phoenix in April, well above the national average increase of 20.4%.

But is it changing?

 

We have added many RED BLOCKS to our chart this month 

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Bill Salvatore / Arizona Elite Properties
Your Valley Property Team
Residential Sales, Marketing, and Property Management

Selling Arizona for more than 19 years

Founder: AZVHV Arizona Veterans Helping Veterans
Recipient: East Valley Tribune’s: Best Gilbert, Arizona Realtor 

 

Bill Salvatore, Arizona Elite Properties, Veterans Agent, Chandler Realtor, Gilbert Realtor, Tempe Realtor, Ahwatukee Foothills Realtor, Mesa Realtor, East Valley Realtor, Southeast Valley Realtor, Arizona Realtor, Phoenix Realtor, Chandler Real Estate, Western Skies Golf Community, Seville, Gilbert Real Estate, Ahwatukee Foothills Real Estate, Tempe Real Estate, Mesa Real Estate, East Valley Real Estate, Southeast Valley Real Estate, Arizona Real Estate, Phoenix Real Estate, Clemente Ranch homes, Ocotillo homes, Power Ranch homes, Seville homes, Arden Park homes, Carino Estates homes, Greenfield Estates homes, Circle G homes, Sun Lakes homes, Warner Ranch homes, Dobson Ranch homes, Fulton Ranch homes, Seller’s Realtor, Clemente Ranch homes for sale, Ocotillo homes for sale, Power Ranch homes for sale, Seville homes for sale, Arden Park homes for sale, Carino Estates homes for sale, Greenfield Estates homes for sale, Circle G homes for sale, Sun Lakes homes for sale, Warner Ranch homes for sale, Dobson Ranch homes for sale, Fulton Ranch homes for sale, Clemente Ranch, Ocotillo, Power Ranch, Seville, Arden Park, Carino Estates, Greenfield Estates, Circle G, Sun Lakes, Warner Ranch, Dobson Ranch, Fulton Ranch, East Valley Real Estate Experts

Comments (12)

Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Bill - the market does need to take a breath but I don't think there is a danger ahead with the pent up demand.

Aug 13, 2022 03:39 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Bill... Charlotte market is seeing record home prices through July in many areas... fewer sales, but people are buying. The real problem is for first-time home buyers who are getting priced out of the market and while paying high rents can't save enough for a down payment.

Aug 13, 2022 04:36 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

It feels like it is flattening a bit but time will surely tell what actually happens in the market.

Aug 13, 2022 05:16 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Bill. Do not panic, real estate has cycles and this may only be a blip not a bump and certainly not a pothole! Enjoy your day.

Aug 13, 2022 05:21 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Hi,

Enjoyed your blog page, and I added you as a friend. I would love the follow back. Thanks Bill

Aug 13, 2022 05:49 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Bill Salvatore - East Valley ,

The market is shifting in many areas but it was time to balance out. With the high demand  the market will continue to do well. I agree with Nina Hollander, Broker " The real problem is for first-time home buyers who are getting priced out of the market and while paying high rents can't save enough for a down payment."

Aug 13, 2022 06:20 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Bill, our market has been cooling off for the last couple of months, but sales are still happening, just fewer.

Aug 13, 2022 06:35 AM
Roy Kelley
Retired - Gaithersburg, MD

Families on the move will appreciate your local real estate market reports.

Have a productive weekend.

Aug 13, 2022 07:50 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Bill, I've been reading here in The Rain that markets are cooling off, but we're not experiencing that yet.

Aug 13, 2022 07:54 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Bill and Thank You for the market report in to share with us.  Things are slowing here in Denver also.  Make it a great one!

Aug 13, 2022 08:52 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Hi,

Enjoyed your blog page, and I added you as a friend. I would love the follow back. Thanks Bill

Aug 14, 2022 06:25 AM
Leanne Smith
Dirt Road Real Estate - Golden Valley, AZ
Relocation to NW AZ with elbow room & more freedom

Given human nature has a tendency to resort to panic buying or selling, more so the later in this instance, I agree with others about first time home buyers not having the funds for the down payment and closing costs due to increasing rent.

Aug 14, 2022 09:56 AM