I received an email from a potential home buyer this week, telling me that it is not a good time to buy a home. I didn’t necessarily agree, so I shared some of the following information with her.
I asked if she’d be following the interest rate forecasts, and let her know that inventories (homes for sale) are starting to level off. In some Scottsdale zip codes, median list prices are starting to increase.
Some other reading that I recommended included the Time magazine article “Ignore the Headlines“.
And also, the article from Tuesday’s Arizona Republic, “After months of declines, existing-home sales up”
My perspective is that we won’t know that we hit the bottom of this market, until it’s past.
The writer responded back asking for more information on the areas where listing prices have been increasing, and I’ll share that Scottsdale update with you tomorrow.
Two other related posts on our current real estate market: