HOT, HOT, HOT is how we describe the seller's market in Arizona right now. As you can see from the Cromford Index below all cities are posting in green, which means the market is favoring sellers in all 17 cities. At 100 we are in a balanced market, where buyers and sellers have an equal footing in negotiation. When it dips below 100 the market will be favoring buyers however, when it rises above 100 then the advantage will shift to the seller.
So why is the marketing rising? Inventory, or lack thereof, is what is driving this indicator up. We have a continual increase in population and not nearly enough resale homes, or new construction, to keep up with what's needed. If you've been thinking about selling or buying an investment property, this would be a great time to do either. Our rental market is as hot as our seller's market. If you'd like information about either option please reach (see contact info) out so we can discuss your options. #azrealestate #scottsdale #arizona #phoenixrealestate #scottsdalehomesforsale
