By Sue Weaver | The Arizona Report
Homebuyers across the nation feel as though they are trying to jump into a speeding car moving 60 mph down the highway. Nationally, the inventory of homes is falling, dropping 8.9 % in the second quarter of 2017 thereby racking up a nine-quarter trend. In fact, the national inventory of homes is down 20 percent since 2012 resulting in extremely competitive markets in many metros. The Phoenix-Mesa-Scottsdale metro is a prime example of how low inventories are placing upward pressure on prices.
Phoenix Predicted to be a Hot Market for 2017
Prognosticators foretold that Phoenix would be a hot market moving into 2017, with predictions being the hottest market or at least landing in the top ten. The data behind these predictions are the metros’ past performance and lack of inventory.
