Not only is the Phoenix area weather forecast sizzling hot, so is the Housing Market. Sudden and sweeping shutdowns in March due to the caronavirus pandemic saw the real estate market take a huge pause. The timing of this coincided with the Spring Selling Season which is normally quite robust.
Summer is now shaping up to be what a normal Spring would look like as far as house sales are concerned. The Cerreta Team Office is seeing a noticable increase in inquiries as buyers rush to find a home while interest rates are at all time lows and home prices have yet to increase.
Once the initial demand has been satisfied, it will become more clear whether this uptick is a short-term experience or a longer term phenomenon. Experts are generally leaning towards a short term time frame. If the experts are correct it will benefit buyers and sellers to make a move while they can.