April 2023

“The balance between supply and demand has been moving consistently in sellers’ favor since mid-November. This confirms we are in the rebound phase of the correction that dominated the second half of last year and created an atmosphere of fear throughout the market. That fear can now be replaced with relief as one market signal after another turns positive and resumes a normal trend. Casual observers tend to worry about factors which can cause weakness in demand, then forget factors that can cause weakness in supply. Right now, supply is weakening much faster than demand.”

“Competition between buyers is starting to warm up because there are too few sellers. This should not surprise us. Supply is just as important as demand.”

“It is time to re-adjust buyers to expect increasing competition from each other as they chase a dwindling number of homes for sale. Sellers have recently been offering generous incentives, including substantial interest rate buy-downs. Those incentives are likely to reduce in value as sellers start to realize they have the upper hand in negotiations.”

-Mike Orr, The Cromford Report.

BUYAZRE WINS of the Month

Featured Listings

1434 E WELDON Avenue, Phoenix, AZ 85014

3 beds | 2.5 baths | 2,380 sqft | $847,500

Welcome home to this stunning 2022 NEW BUILD, known as ''Well Done'' 3 bed, 2.5 bath, incredible 12+ high vaulted ceilings, 2x6 construction, solid wood doors, custom 12 ft long kitchen quartz waterfall island, gas burners, stainless steel hood, wine fridge extra long pantry and decorative backsplash will wow you.