{"id":2342,"date":"2019-03-05T11:41:26","date_gmt":"2019-03-05T11:41:26","guid":{"rendered":"https:\/\/www.gentryrealestategroup.com\/buylowazteam\/?p=2342"},"modified":"2019-06-21T12:09:35","modified_gmt":"2019-06-21T12:09:35","slug":"metro-phoenix-homebuyers-making-headway","status":"publish","type":"post","link":"https:\/\/gentryrealestategroup.com\/buylowazteam\/metro-phoenix-homebuyers-making-headway\/","title":{"rendered":"Things are Looking up For Homebuyers in the Metro Phoenix Market"},"content":{"rendered":"<h2>Metro Phoenix Homebuyers making headway<\/h2>\n<p>While Metro Phoenix is still a seller\u2019s market in the residential real estate arena, buyers are making headway. While Valley home prices hold steady, the area\u2019s inventory of homes for sale is up.<\/p>\n<p>With prices holding steady and supply up, buyers who a year ago were engaging in <a href=\"https:\/\/www.gentryrealestategroup.com\/buylowazteam\/phoenix-rising-home-prices\/\">bidding wars<\/a> for affordable single-family properties are having more success purchasing homes priced below $300,000, according to Cromford Report Senior Housing Analyst Tina Tamboer, who says that while a year ago buyers may have competed with 15 other bidders, now they\u2019re competing with just three other offers.<\/p>\n<p><a href=\"https:\/\/www.gentryrealestategroup.com\/buylowazteam\/files\/2019\/03\/GENTRY_HOME_BUYER_BRANDED_IMAGE.png\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignleft wp-image-2345 size-full\" src=\"https:\/\/www.gentryrealestategroup.com\/buylowazteam\/files\/2019\/03\/GENTRY_HOME_BUYER_BRANDED_IMAGE.png\" alt=\"Metro Phoenix homebuyers making headway\" width=\"700\" height=\"475\" srcset=\"https:\/\/gentryrealestategroup.com\/buylowazteam\/files\/2019\/03\/GENTRY_HOME_BUYER_BRANDED_IMAGE.png 700w, https:\/\/gentryrealestategroup.com\/buylowazteam\/files\/2019\/03\/GENTRY_HOME_BUYER_BRANDED_IMAGE-300x204.png 300w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><\/p>\n<p>According to the latest report from <a href=\"https:\/\/www.valleywidehomes.com\/state-of-the-phoenix-housing-market\/\">The Information Market<\/a> for the Arizona Regional Multiple Listing Service (ARMLS), the median home sales price in January 2019 was $262,100. That\u2019s down from the record $268,000 it hit in June 2018 but up from $260,000 in September 2019.<\/p>\n<p>Too few homes for sale\u00a0priced for first-time buyers in the Phoenix area led to a soaring seller\u2019s market over the past two years. Home prices climbed about 7 percent in 2018 and 7.5 percent in 2017. Buts<\/p>\n<p>But since December 2019, the number of new home listings in the Phoenix area leaped 78 percent, according to ARMLS.<\/p>\n<p><strong>A better market for buyers<\/strong><\/p>\n<p>Many first-time buyers have been competing with investors and flippers in search of median-priced Valley homes. But recently, homes priced below $250,000 have experienced the most price reductions, according to Tamboer. The reason is at least partly due to a glut of investors and flippers trying to resell homes they bought in that price range.<\/p>\n<p>After a couple of years of disappointment, first-time buyers re-entering the market have become more particular in regards to what they will pay for houses that need work.<\/p>\n<p><span style=\"font-size: 18.6667px\"><b>Market continues to stat strong<\/b><\/span><\/p>\n<p>Metro Phoenix area homebuyers who are holding out until home prices begin to plunge aren\u2019t likely to become homeowners in 2019, as Valley home prices are expected to climb at a slower pace or possibly plateau during 2019, but no decrease is in sight.<\/p>\n<p>Phoenix will not experience plummeting home values as it did during the 2008-2011 real estate crash say analysts who are making predictions based on actual numbers rather than crystal ball speculating. None of the same issues such as subprime\u00a0loans and rising foreclosures are occurring now.<\/p>\n<p><a href=\"https:\/\/www.gentryrealestategroup.com\/buylowazteam\/files\/2018\/01\/EQUAL_HOUSING_OPPORTUNITY_LOGO2.png\"><img decoding=\"async\" class=\"alignleft size-full wp-image-1176\" src=\"https:\/\/www.gentryrealestategroup.com\/buylowazteam\/files\/2018\/01\/EQUAL_HOUSING_OPPORTUNITY_LOGO2.png\" alt=\"Equal Housing Opportunity\" width=\"150\" height=\"150\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Metro Phoenix homebuyers making headway<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Metro Phoenix Homebuyers making headway While Metro Phoenix is still a seller\u2019s market in the residential real estate arena, buyers are making headway. While Valley home prices hold steady, the area\u2019s inventory of homes for sale is up. With prices holding steady and supply up, buyers who a year ago were engaging in bidding wars [&hellip;]<\/p>\n","protected":false},"author":78,"featured_media":2346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,4],"tags":[15,55,116,20],"class_list":["post-2342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-social-media-post","tag-arizona-real-estate","tag-arizona-real-estate-trustee-auctions","tag-phoenix-home-inventory-up","tag-phoenix-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Metro Phoenix homebuyers making headway | Gentry Real Estate 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