1876: Phoenix Real Estate: Is the Seller’s Market Over? The Cromford Report, Tina Tamboer

Is the housing market at an inflection point? Tina Tamboer, Senior Housing Analyst at The Cromford Report says there has been a significant shift, specifically in supply and demand creating a very interesting dynamic right now in the greater Phoenix area market. Are things becoming more favorable to buyers? What about investors? Is this seller’s market finally over?

Phoenix is a boom and bust type of market nowadays, but today is different from the last housing market crash. Whatever your residual anxiety over what you went through during that period of 2005, all the way to 2008, ‘09 and ‘10, you have to put those emotions aside. Emotions are not facts and you have to lean into the numbers to learn what's happening today.

Key Takeaways:

0:00 Welcome to The Creating Wealth Show

1:26 Empowered Investor Pro August meeting 

2:23 Welcome Tina Tamboer, Senior Housing Analyst at The Cromford Report

2:52 Shift in supply and demand affects each range of the market differently 

3:54 Inventory is going up in different amounts in different markets 

6:04 Affordability in the Phoenix Metro area

7:06 The interest rates have gone up so fast, the lending community can’t keep up 

7:48 The difference between a crash and a correction 

9:03 Interest rates coming down at the end of a recession 

11:15 In RE investing, you can continually renegotiate your deal 

13:52 Why this market is different from the last crash 

15:21 Measuring housing supply and demand

17:31 Phoenix is a boom and bust type of market nowadays

18:00 New listings increasing sharply 

21:34 Number of closings in the great Phoenix area

22:59 What’s happening in each market segment - below 400K and above 400K

25:11 Tune in for part 2 on the next episode!

CromfordReport.com

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