November 17, 2024 7:36 pm
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Real estate expert puzzled by lack of Phoenix buyers

Searching for a Niche Group - Magnifying GlassBy Rod Lakin | KTAR

The return to normalcy for the Phoenix real estate market seemed to remove a significant deterrent for those looking to buy a home in the Valley.

Phoenix has recently been classified as a “balanced market,” meaning there is no significant advantage for sellers or buyers in a typical real estate negotiation. However, these improving market conditions have not brought back what many analysts were expecting: more homebuyers.

“The big question is why is (buyer) demand low right now,” said Arizona State University Director of Real Estate Michael Orr on his weekly appearance on That Real Estate Show. “I’d like to know the answer to that. It’s causing me to scratch my head right now, because (buyer) demand was perfectly normal just three months ago.”

Continued:

If you’d like to discuss real estate matters, contact Rose Law Group founder Jordan Rose, jrose@roselawgroup.com

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.