Prediction #1: Arizona will continue to be a HOT sellers market driven by above average demand and below average inventory. Listings are down 24.5% year over year and median sales prices are up over 11%. 

• Buyers: This means that sellers generally have the upper hand in negotiations. Expect to pay at our above asking price with fewer seller concessions. I’m still seeing lots of multiple offers going on so put your patience pants on. New construction is starting to alleviate some of the pressure but unfortunately most of those houses are over $350k leaving lower price points super competitive. I recommend strategizing with your Realtor® (me) at least six months before you plan to buy. 
• Owners/Sellers: We’ve been in a sellers market for a while so if you’re interested in selling you’ll likely have a buyer in short order. If you’re selling your primary home you’ll also have to buy which can be tricky with the low levels of inventory we are experiencing valleywide. Again, my recommendation is to strategize with your Realtor® (me) at least 6+ months out. We can collaborate on a game plan with a trusted lender to sell your home and get another simultaneously. There are also some other creative financing strategies that can smooth this out. Talk to me if you’re interested in learning more. 

Prediction #2: Prices will go up, but likely slower than previous years. As I noted above median sales prices are up a whopping 11% year over year valleywide. Those are some impressive numbers which really isn’t reasonable to expect long term.

• Buyers: There’s no better time than the present. If you’re not in the housing market you’re losing out on one of the most stable investments you can find. Houses are getting more expensive by the day, but in our market, rent prices are going up almost 2x as fast. The longer you delay your purchase, the more you’ll need to shell out to buy your starter house. 
• Owners/Sellers: Most areas of the valley are trending above historical averages for house appreciation. We can thank our strong inbound migration from more expensive areas like California and the Pacific Northwest which is fueling demand and keeping our prices on the upswing.