Home Buyer - Be Quick or Be Frustrated

Quality, timely information and insight are at an all-time premium. Being quick into escrow that you eventually walk from is the ultimate frustration … and time waste.

Days-on-Market? How about minutes?

Clearly illustrated by the chart

Annual Closings/Sales Cycle
Peak Closings – March, April & May
Low Closings – January
… closing are 30 days after the “sale”

Overall Trend
A steady increase from 7,100 to 7,500 range in the peak months of 2015
to the 8,000 to 9,000 range in 2019

The Problem
no homes available

Maricopa County has had the highest in-migration of ANY county in the USA every month for 3+ years

… this chart illustrates the decreasing “supply” of homes being offered for sale … that those new arrivals are facing.

MOS = Months of Supply

an example …. if you have 136 listings at the start of the month and then 100 sales that month, the MOS would be 1.36 … the current overall MOS for Maricopa County … incredibly low

The Bottom Line
Strong Seller’s Market

This “Relative Strength” measures the MOS for the most recent month compared to the 10-year average MOS for that month.

Only a combination of condition issues and over-pricing, or bad location, will keep a property from selling reasonably promptly in the current metro-Phoenix market when listed under $500,000.