June 19 & 20

Welcome Back, Weekend Warriors! Happy Father's Day!

This is the Amy Jones Group's weekly newsletter, detailing local events, recent real estate news, and open houses.

This week, we're bringing you five fun-filled events happening around the Valley!

We’ve finally entered into the land of 100 degree digits and man, oh man, it’s hot. Talking about the weather in Arizona is getting about as repetitive as talking about real estate with one exception - while the national news media is clear on what 100 degrees looks and feels like, you won’t get a single commentary that accurately describes the real estate market here in East Valley with any level of consistency across news channels. 

The problem is not so much that people can’t pull the data correctly, but that the interpretations of the data are layered in emotion and the truth of the matter is that while we can’t predict the future, the closer we get to understanding the local real estate climate the better we can predict - at least in the short term - what to expect.

Right now, we don’t have enough places for people to live in the East Valley, and that alone will continue to be the driving factor, in the extreme appreciation in pricing that we’ve seen in the last 18 months and can expect to see for at least the next 6 months. Before something can come down, it  has to stop going up and while that might seem reasonable, there’s lots of click bait swirling around the internet that has people thinking otherwise.

The good news here, is that some level of skepticism about houses appreciating on average $100K in a single year is good - in fact, it means that people haven’t completely lost their sense of reality and its likely in part what is keeping people from making really bad decisions right now. Questioning how the monthly median sales price can rise 24.6% in just one year is normal. 

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With active listing counts in the East Valley about the same month over month, we’re watching with a very close eye the rate of new listings hitting the market as we’re seeing the fastest pace of new listings since April of 2020 and with the end to forbearance for many owners coming up this Summer -  we will likely see this number increase. 

This should be music to our buyers ears - more inventory and still appreciating values. In fact, it feels like we might be in the best window of buying opportunity that we’ve seen all year. What is usually a very uneventful time for real estate, this Summer will prove to be likely one of the cheapest times to buy houses in the next 12-18 months as prices and interest rates continue to rise. Have a home to sell before you buy? You are the lucky ones that get to capitalize on both markets.

Want to learn more or get an updated equity position on your home? Give us a call and let us help you move forward.  

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