Arizona Lifestyle / Getting Ready to Buy / Getting Ready to Sell / Ready to Sell / Real Estate News

Year Over Year Home Sales Are UP

To no surprise it seems our home sales recorded in the month of April are up year over year. According to the Arizona Regional Multiple Listings Service, the number of homes sold in April 2017 versus April 2016 was up almost by 400 home sales.  Being that rates are very HOT right now and consumers are starting to recover from their previous foreclosures and loss of jobs, is helping to contribute to this increase.

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Ironically, the total number of homes up for sale, is down a bit YOY.  Why is this?

Are people afraid to put their homes on the market with the new government that took office recently… is it because people are wrapped up in doing home improvements and don’t want to sell….  are people unsure about their jobs?    Why is it do you think?

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New real estate business models of buying/selling homes are the OfferPad and OpenDoor models that do not require you to go through the full term process of putting your home up for sale and taking 30-45days.  Do we think this sort of thing is affecting our market in a good or bad way??? OR not at all??? (over the past year these two companies have accounted for almost 16% of all flips in Maricopa County and it appears to be increasing).

At this point, most real estate agents are prepping for the summer months, where hopefully we see an uptick in sales because kids going back to school.  Let’s stay tuned and see if home owners start feeling the need to dabble in the home selling process to get a feel for what they can now get for their homes.