Local experts optimistic about housing market

By Colleen Sparks | North Central News

The Coronavirus pandemic has caused a significant decline in the number of houses being put on the market around the country but local experts say they expect North Central Phoenix to fare better than other areas and bounce back quickly.

Realtor.com reported that the number of home listings on its site dropped 47-percent year over year in the week that ended April 11. Prior to the COVID-19 crisis, the number of new listings on Realtor.com had been rising by about 15-percent in the first two weeks of March.

Bobby Lieb, associate broker with HomeSmart and long-time North Central Phoenix resident, said he and his colleagues are still showing homes and recently sold a house near 17th Street and Bethany Home Road. Lieb said as of early April, he had 19 listings and had seen home sales within the last three or four days in his area. He and his team had six new home listings for houses ranging from $500,000 to $1.4 million in the last two and a half weeks.

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