1876: Phoenix Real Estate: Is the Sellers 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\u2019s 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, \u201809 and \u201810, 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\xa0
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\xa0
3:54 Inventory is going up in different amounts in different markets\xa0
6:04 Affordability in the Phoenix Metro area
7:06 The interest rates have gone up so fast, the lending community can\u2019t keep up\xa0
7:48 The difference between a crash and a correction\xa0
9:03 Interest rates coming down at the end of a recession\xa0
11:15 In RE investing, you can continually renegotiate your deal\xa0
13:52 Why this market is different from the last crash\xa0
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\xa0
21:34 Number of closings in the great Phoenix area
22:59 What\u2019s happening in each market segment - below 400K and above 400K
25:11 Tune in for part 2 on the next episode!
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