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Cooling Temps Equal Cooling Market in AZ?

Now that the temperatures have started to dip we are seeing a cooling off of the Arizona real estate market.  This is evident by a cooling off of appreciation and an increase in the average days on the market for listed homes.

Why is this happening?  Some potential culprits are:

  • Higher interest rates
  • Government shut down and reopen
  • Partisan bickering over the debt-ceiling and Obamacare
  • More new home builders have increased the supply

How do we interpret all of these factors?  The market has finally reached a price-point where buyers are just saying “too pricey for me!”

Given the fast approaching holidays, if your home is on the market and you have to move, a healthy price drop might be the answer.

Final assessment: keep playing it smart and don’t fear competition – we don’t!  Why? We do what agents can’t!