Greater Phoenix real estate update

(Disclosure: Rose Law Group represents Fulton Homes and Offerpad.)

By Sarah Perkins

Now, this is a headline that says it all, “Who’s Lying About The Housing Market? The housing market is heating and cooling at the same time, depending on the data in question. Who’s telling the truth?  Actually, maybe everyone…” Author, Matthew Graham explains that prices are appreciating faster than they have in 15 years, homes are selling in minutes, and bidding wars are commonplace all while demand is actually falling. Demand was THAT high and remains above normal.

National Real Estate:

  • 36% of newly pending sales were immediate, meaning they went pending either before they hit the market or within 24 hours of going active.
  • 64% of newly pending sales were on the market for one week or less.

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