Phoenix RE favoring sellers amid pandemic

By Peter Samore | KTAR

Phoenix — Homes for sale in the metro Phoenix area are currently going under contract in about eleven days — twice as fast as one year ago, according to an online real estate database.

Zillow’s Weekly Market Report also said buyers have seen their inventory decrease by 28.2% over the last the last 12 months.

“Those homes are selling faster, they’re seeing multiple offers, and that’s forcing prices higher as well,” Zillow Economist Jeff Tucker told KTAR News 92.3 FM.

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