The Phoenix Valley housing market just shifted.
Pending home sales jumped 9.6 percent year over year through May 10. That's the highest level since September 2022. Buyers are back.
But here's the catch: new listings fell 1.6 percent. Third straight week of declines. The median sale price hit $397,740, up 2.2 percent. Mortgage rates are hovering at 6.57 percent. We're sitting at just 3.5 months of supply when a balanced market needs four to five months.
Translation? Your negotiating power is shrinking. More competition means faster decisions and stronger offers. The buyer's market window is closing.
If you've been waiting for the perfect moment, this is your signal. The data doesn't lie, and neither do I.
DM me directly and I'll break down exactly what this means for your specific situation. I'll respond within the hour.
