Summer in North Phoenix can be a challenge with temperatures soaring into triple digits. It’s important to prepare your home to withstand the heat and keep comfortable. Click HERE for some tips on how to stay cool and have your house ready.
Anniversary!
My wife and I recently celebrated an anniversary and had the extreme delight of visiting Quiessence at South Mountain and took part of their Chef’s Table. The 6+ course meal was amazing, memorable, and the best meal I have ever had. I encourage you to check them out if you are celebrating something special.
Do You Love Illusions?
New to Scottsdale! Immerse yourself in Illusion rooms where you will grow, shrink, defy gravity, and walk on walls! You won’t believe your eyes! Read more HERE!
Welcome to my rant! You’ll be seeing more of them in future newsletters too. Let’s get right to it.
Last year, our market peaked in March/April. Then, interest rates quickly started going up, and as they did, surprisingly, supply nearly tripled, while demand halved in about October/November. That led to what some called a crash or correction. I don’t care what it is called–prices came down. Then, right around the end of December, the market shifted again, and we continue to see that trend to this day…shockingly against historical trends of spring time bringing more inventory while demand staying “normal.”
Instead, supply is dipping, while demand is going up. No one stat will show the entirety of the market but near the end of the year we were around 3.5 months supply. We are now at a continued falling rate and presently at 2.1. Both are below normals for a balanced market, but if the trend continues we’ll be back to where we were with higher prices and rates and low supply.
If you are thinking about buying–I believe now is better than later (as long as you find the home you love). And if you are thinking about selling, I believe now is better than later too. Why? Because I am never a fan of playing the market.
Happy end of March!
Blair
