The Greater Phoenix Area and Mesa

The Greater Phoenix area seems to be in a bit of a different market right now compared to what we are seeing in Mesa

They are seeing a lot more listings coming on the market and demand being down.

Here in Mesa, we saw supply pretty much the same, just a very slight decline, and the median sales price dropped. However, over the past couple of weeks, we have seen buyers come back out, and I had three of my listings go under contract this week.

Let’s hope this trend continues and buyers are finally ready to return to the market. Rates have already begun to decline, and we expect this to continue, especially once the new Fed Chair takes office and buyers feel more confident. If we continue to see rate drops, buyers will come back into the market and snap up inventory pretty quickly. We could see a seller's market in the next few months, so if you are thinking of buying, now might be the best time.