The market remains dominated by a chronic supply shortage. The total number of active listings has declined and the shortage is more severe among the more affordable prices range. First time buyers are having a difficult time purchasing a home with the onset of price increases and fewer properties available in their price range.
Investors have gone elsewhere since the bargains are gone only to be replaced by increased demand from owner occupied home-owners and second-home buyers. The demand is close to a normal level for market, it is the unusual lack of supply the dictates what will happen next.
There is far more supply available in the market over $800,000 and in the active adult communities but demand is increasing and home prices are also inching upwards.
* source ” The Cromford Report”
100 is a balanced market- over 100 is a seller’s market, under 100 is a buyer’s market, we are currently in a seller’s market in Fountain Hills AZ
I live and work in the Fountain Hills area 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 me anytime to chat about the place that I love to call home!