Phoenix Housing Market summer 2024: Balanced Growth & Appreciation 📈
Curious about the current state of the Phoenix housing market? In this video, we dive deep into the latest trends and data to give you a clear picture of what's happening right now. Spoiler alert: The sky IS NOT FALLING.
🔍 Market Insight: Contrary to recent concerns, the Phoenix housing market is not crashing. Instead, we find ourselves in a balanced market where supply and demand are in equilibrium.
💰 Price Appreciation: Home prices in Phoenix are appreciating at a healthy and sustainable rate. This growth reflects the area's strong economic fundamentals and growing appeal as a place to live and invest. For too long, Phoenix was seeing 30% year over year appreciation. That was not sustainable or healthy. Now we're back to a normal 5-6%, which is completely reasonable.
📊 Timing the market: my strongest advice here is: Don't. It's impossible to predict the bottom of a market. If we look at the data for our current market, it would seem that the "bottom" is behind us, which means that if you were trying to time the market, it's too late. So what does this mean for buyers now? It's a great time to buy because demand has not returned full force, but prices are off of their pandemic highs. They're also up from the lows, but they're only going to increase from here. Tune in for more in depth thoughts on this one.
Whether you're a prospective buyer, seller, or simply curious about real estate trends, this video will provide you with valuable information about the Phoenix housing market today.
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Daniel Brown is the Founder, CEO, & REALTOR® at Myriad at My Home Group. Located in Central Phoenix, Myriad serves clients throughout the Phoenix metropolitan area.
0:22 When is the market crashing?
1:48 Is it too late to buy a hosue?
2:52 Why is now the time to buy a house?
4:12 What if I don't have the cash to buy a house?
5:30 When is the right time to buy a house?
Website: www.MyriadAZ.com/
Facebook: / myriadrealestate
Daniel's Instagram: / dannybrownaz
Myriad's Instagram: / myriadaz_
17 сен 2024
