Phoenix Real Estate Market looking rosy for 2022

Dated: December 15 2021

Views: 53

Just a quick update.....

The experts have weighed in on their predictions for the Phoenix real estate for 2022 and it looks like it's going to be another banner year for sellers while buyers will continue to be frustrated in their search for homes. 

The consensus is that the market will continue to appreciate, mainly around 13.5 percent for 2022. The appreciation rate continues to be strong, but it is not predicted to be as strong as 2021. 

Inventory levels of resale homes will continue to be low. We should see an increase in listings in the 1st quarter of 2022, although it is not predicted to be significant. The days on market for listings has been increasing which may help buyers with negotiations. 

Affordability is a growing problem in the market. Despite low interest rates, rising prices and inflation continue to keep potential buyers out of the market. If there are changes in the interest rate that could make the situation worse...or better. 

Obviously these are just predictions...no one can know for sure where the market is heading in the future. 

If you would like to discuss your real estate situation...let's talk!

Tom

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Tom Smith

Ohio born, Arizona resident since 1996. FULL TIME REALTOR since 2001. I love working with buyers and sellers alike helping them achieve their real estate goals.....

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