If we could pick one word to describe the real estate markets in the last few years, we might be tempted to look at words like "frenzied", "wild", or "out-of-control". However, if you want a word that really gets to the root of the problem, the could easily be "unbalanced". With way too many buyers and not nearly enough sellers, the unbalanced market became a tad unruly, resulting in many disappointed buyers, and sellers with flush with equity.
Well, the good news is that 2023 will be a completely different market. While the story is yet to be told on how Phoenix will fair in the coming year, experts agree that a more balanced market has benefits for buyers who can stomach the higher interest rates. As AZCentral recently reported, this welcome news isn't all bad for sellers, either. Both have a reasonable chance of success in 2023.
We are here to help! If you want to find out how much your home is worth in this strong market, email me at [email protected]. We would be happy to help you determine if the time is right for you to sell your home or buy a new home.