The kids are in school, the temps are riding sub-110 degrees, and holiday decorations are appearing in stores.   Hurray, autumn is nearly here.    As the world turns, Phoenix real estate slowly evolves.  Per The Cromford Report, September 2, we are told that new listings are coming to market at a very low rate  (15.6% few than last year, and 13.2% fewer than 2012).  The strange paradox is that we are at the same time experiencing a slump in demand (fewer buyers than in recent years past), but the slump in supply is maintaining the equilibrium.

The balance in demand and supply can very greatly across the metro area, by neighborhood, price range, and property profile. Chandler, Tempe, and isolated areas are clipping along with sales; high end luxury homes are selling well.  Michael Orr (The Cromford Report) states in his September 2 commentary that he predicts” by this time next month we expect to be in a very neutral market with demand and supply in almost exact balance.”

Please call or email if you have questions about your home’s value and selling prospects….or if you need help with that purchase.