Monday, June 29, 2020 / by Sharyn Younger
10,000. The Phoenix metropolitan area has less than 10,000 properties for sale at the moment. Many of you have heard me talk over the last few years about a strong sustained sellers market and predict that eventually, as in most things, the pendulum would swing back in favor of buyers. Not today my friends. Not today!
Buyers are frustrated by competing with high demand and low supply. One would draw the logical conclusion that while it's a phenomenal time to be a seller in this market, it's a nightmare for buyers. However, the very reason that demand is so high, makes it a great time to be a buyer. And I can summarize that reason in one word: Affordability!
The graph above illustrates this affordability well. A home that sold in the final quarter of 2018 for $300 ...