Tony Chard - Specialty Realtor

06/08/2024

06/20/2022

This is the one you have been waiting for!!

02/11/2022

East Valley - MARKET REPORT
For this segment, I'd like to focus on East Phoenix, Scottsdale, and the East Valley. Sales have been phenomenal, to say the least, for the last couple of years. In fact, we broke multiple records during this period. However, many clients have been asking, “Where's the market going from here?” That's a great question for sure.

In order to answer this pending question we will look at the affordability portion of the market because it is quite telling. When a majority of potential purchasers are priced out of the market it can severely affect the market as a whole. Take a look at what is available for a large portion of the metro east valley cities:

https://www.flexmls.com/share/6HzxT/Selected

In the range between $175K - $225K, there are a whopping (antonym intended) 27 dwellings available. If you take out adult communities (age 55+), that drops to 15. That is literally, 1 dwelling for every 100,000 people in this price range! A little simple math will tell you that is not a sustainable forecast. On top of that, we are looking at potential interest rate hikes by the Federal Reserve next month.

All of this, in my opinion, means it might be a great time to invest now!

Next time, we will look deeper at other sectors of the real estate market.

Professionally yours,

02/10/2022

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