Happy Holidays.
A note of gratitude as we close out the year — celebrating what we've given back to the community, and a look at what the Phoenix real estate market has in store heading into 2022.
$5,000
Donated to Tour de Force
170
Coats Donated
2022
Market Outlook
Happy Fall Y’all! After a hot summer the Real Estate Market in Phoenix has continued to perform at a high level. The number of houses for sale has started to see an increase since March where we saw a record low inventory of 4,600 homes for sale. As of today we have seen the number of homes for sale increase to 7,649 actively for sale. The small increase in inventory has alleviated some of the built up pressure buyers have experienced over the Spring and Summer months and we are anticipating a rise in inventory levels in the weeks to come. We still have a long way to go to reach a healthy neutral market, which would be around 21,000 homes for sale, but in the short term buyers are having more options and sellers are feeling more confident about selling their home if they have a new home to move into.
One of the major shifts we have seen in the 2021 real estate market is what a buyer is looking for in their new home. The AIA Home Design Trends survey released from the American Institute of Architects shows that the main features a buyer is now looking for in their new home is as follows:
- Outdoor Living Space
- At least 1 home office (48% wanted multiple offices)
- A multifunction-flex space room
- In-Law Suite
- Excersize Room/Yoga Studio
This list is a drastic difference to those we’ve seen in the past. If you find yourself needing more space or that your current living conditions aren’t meeting your new lifestyle- let’s set up a consultation to discuss how we can help you achieve your goals whether that is selling your home and buying a new one, or modifying your current living space to meet your needs today. To access the full Home Design Trends Survey you can visit their website here: http://info.aia.org/AIArchitect/2021/0910/aia-interactive/index.html#
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