Arizona Home Talk

The definition of a “buyer’s market” has traditionally meant that the supply is greater than the demand.

Specifically, more than 5 months worth of inventory/supply is considered a buyer’s market. Obviously, the seller trying to sell her $900,000 house will be willing to negotiate a lot, make repairs and kiss your feet if you choose HER house out of all the choices out there. But what about the bank selling the $100,000 house? They may not need your offer - they probably have at least 10 other offers for over their asking price.

Ask any Phoenix-Area Realtor what is going on with the $250,000 and lower priced homes (especially the bank-owned ones) and you’ll hear a new story about multiple offers and bidding wars.

Don’t believe me or my colleagues? I’ll have my clients vouch for this - it’s competitive out there in certain price ranges!

Check out this graph of the Phoenix-Metro Real Estate Market. Remember - more than 5 months of inventory is a buyers market. Less than 5 months is a seller’s market.