What does all this mean?
The Demand Index at 83.1 which is the short-term demand in the market which comes from market trends of sold and pending listings in the last 4 years.The demand is under 100 which shows a decrease in demand, look at the changes from a year ago. So the demand isn’t pushing the prices up, it is the shortage in supply.
The market index is 143.3 which indicates it is still a seller’s market, under 100 is a buyer’s market and 100 is a balanced market.
The supply index of 58.0 indicates a shortage in supply. If the numbers show above 100 we have excess supply, below 100 is a shortage of supply.
This is a great time for home-owners to consider selling if you have been waiting for the market to come around again. It’s a little challenging for buyers as so many are competing for the same homes. Make sure as a home buyer you are pre-approved with a qualified lender and ready to make a decision when you see the right home, if you wait too long, there is a chance of competing with multiple offers. which benefits no one but the seller.
I live and work in Fountain Hills and I absolutely love it! I would love to share my knowledge of this unique community and all it has to offer. Feel free to call or email me anytime to get more info about the place that I love to call home!