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LIFE AFTER COVID 19

IN THE REAL ESTATE

MARKET by Melanie Compton

You may perceive this as a very on the market, this would only push This basically is refl ecti ve of a

interesting time, and so do I. us into a healthier and more stable realignment of buyers versus sellers

real estate market of 2-4 months. rati o, thus potenti ally creati ng a
The uncertainty of everything When we start to see a downward healthier market.
can feel at times overwhelming. trend on our home prices, that’s

However, we want to assure you when we have more inventory than Bott om line…I know that the
that we will get through this and 4 months and homes are not selling. informati on above is a lot to take
that the real estate market, in my Below are accurate numbers of what in and that we all are speculati ng,
opinion, will continue to be strong our market is currently experiencing but we are remaining confi dent

due to the increasing number of per The Cromford Report, which is amidst all of this and feel very lucky
people flocking to the valley for our indicati ve of what I stated above. to be in a state with such a GREAT

climate and business opportunities. The Cromford Report provides daily real estate market. The demand for

Even with my vast experience of analysis on the Greater Phoenix real estate here in the valley is sti ll

over 25 years in the financial and Metropolitan area and is highly very HIGH and people conti nue
real estate industry, the evaluation respected in the fi nancial industry. to flock here to build a new life

of real estate trends can be a everyday! Being a real estate expert,
complicated process, so let me Here are the highlights: I can assist anyone relocating or are

simplify the basics for you. currently residing in the valley.
• In March, sales prices continued

As many of you may already know, to climb, and we sti ll saw multi ple Every precauti on is being taken to
our inventory is very low, with off ers as buyers tried to take ensure a safe process for our home
approximately a 1-2 month supply advantage of low interest rates. buyers and sellers.
of homes on the market currently,

thus indicative of a seller market. • Although inventory is sti ll DOWN Stay positi ve, we will get through
Conversely, 2-4 months of inventory overall from the same period last this…I am here for you!
on the market is a healthy market. I year, new listi ngs, pending, and
mention this to help you put things closed sales were all UP over last Melanie Compton is a realtor with JK

in perspective where the market is month. Realty and is based on Gilbert, AZ.

concerned. To learn more about buying or selling
• Buyers are decisive! The average a home, you can reach out to her at
Currently, a lot of banks are working days that a listi ng is on the market melaniesellsaz@gmail.com or at 480-
with anyone who is struggling and dropped from 42 in February to only 232-9230.
behind so that we don’t have a 26 in March.
repeat of 2008 – 2012. After the fall

in 2008, the banks started putting a I believe our biggest take away

lot of protective measures in place from The Cromford Report/Market

so that we wouldn’t have a repeat. Leader was that prices are NOT
So, even if we do experience a slight expected to drop, but transacti on

bump in increased listings coming volumes HAVE started to drop.
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