Just like that, the first quarter of 2022 has flown by! As we head into the second quarter, it should be no surprise that we are seeing double digit year-over-year price increases.
The cause of this Extreme Seller’s Market remains the same: high demand with low supply. Even with the recent interest rate increases we have an abundance of people looking to purchase homes but not a lot of people wanting to sell homes and not enough new construction homes to take up the slack. Until the supply balances out with demand, our prices will continue to increase.
Take a look at some of the East Valley cities and neighborhoods as an example. If you’d like specifics on your specific area or home, just contact me and I’m happy to get you some more precise information.