What is the Phoenix real estate market update for the first week of June?
Active listings are decreasing again week over week, and pending listings and sales are up. Historically, as we get into this time of year, the pendings and sales are on track at least with their trends. It is the amount that is occurring that is not common.
But, we will keep monitoring these statistics to see what is expected to happen in the future. At this present time, home prices are continuing to go up, and supply is low, and demand is high. We are at 1/2 month supply of inventory.
Even if we get to 4ish months prices will still increase, and that is nowhere in sight.
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The Phoenix housing market is hot. But it is still a great time to buy in Phoenix.
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This is another Phoenix real estate market update for 2021 discussing the Phoenix housing market, and the Phoenix housing market predictions for 2021