Click the thumbnail to see the May market update/Supporting Heart Warrior video. (3:15 begins Heart Warrior info) Or keep reading...
The greater Phoenix Valley real estate market has't changed much in the last month, however we are seeing a seasonal uptick in families shopping for a new home... a trend that will continue with the end of the school year. The current market:
Our AZ real estate market remains at less than 90 days on market (average). Inventory has climbed slightly but remains historically low. Home sales have ticked up along with inventory, which keeps us in a very steady, somewhat traditional balance, obviously this changes from city to city, neighborhood to neighborhood.
Where are the challenges & opportunities? Both stem from mortgage rates hovering around 7%. New Build inventory is filling the gap of homes available with many at or near completion (vs 8-10 months out). Some builders are offering lower interest rates. Thus many savvy sellers who want to compete are also offering concessions that buyers may use to buy down the rate. Ready to consider a move? Contact us a The Drew Team so we can craft a plan to reach YOUR goals!
I wanted to take a moment to draw your attention to a fantastic cause that we've supported for 6+ years! Hansen's Heart Warriors Golf Tournament was started to pay forward the work done at Phoenix Children's Hospital in the relation to heart care.
Its been our privilege to serve the Hansen family for over a decade. When Justin & Chelsea had their son, Jaxton, he had a heart issue that required surgery. Phoenix Children's Hospital was there for family and Grandpa Chuck became a driving force in creating Jaxton's Heart Warriors golf tournament to raise funds to support the focus on heart care at PCH. Jaxton would have multiple surgeries and while he is doing well, will require another surgery this year. Additionally his cousin was diagnosed with similar heart issues, thus the name change to Hansen's Heart Warriors. This year was particularly tough as Chuck passed away (pictured in the golf cart). I'm asking that you consider joining us in honoring his legacy and huge heart by donating to the work at PCH.
Donations can be made at the bottom of the main page for the golf tournament, there you can also get a bit more this family story. Please visit: www.jaxtonsheartwarriors.com to join us in supporting the amazing legacy of Chuck and the work of PCH.
Opportunities in the 2024 Real Estate Market
