June 2019 Market Snap Shot for Phoenix
Summer is here! The heat has arrived and so has the summer slow down. May was a record closing month and like most years the number of sales and listings is slowing down. June was still a great month with over 8000 closings.
Inventory is low so the number of sales and pending sales will logically be lower as well. The demand is still there as buyers are scrambling to find available inventory.
Pricing seems to be leveling off but the true test will be the fall when sales and listing activity picks up. While the summer is not the most desirable time to list a home, an argument could be made to list now while the competition remains low. For buyers now is the time to shop. You will have less competition but it is imperative that you have your financing in order and you jump when you see a home hit the market. Timing is everything.
Please remember on July 20th, 2019 we are having our Chili Cookoff in Overgaard AZ to help the local food bank. It's a great time of the year to visit the mountains and cool off. Call me for details and directions. This year my wife and I will be cooking Cincinnati Chili! Come try it!