Larry, Diane & Connor Bearse
We have good news for first-time homebuyers! A 10% rise in active single family homes between $150K-$200K over the last 4 weeks caught our eye. Seasonally we expect supply to begin rising in late September, so a turn this early in the year is unusual. This price point has been decreasing nearly every week since November 2016 and is highly competitive amongst buyers and investors alike. Listings appear to be growing the strongest in Pinal County and the West Valley, particularly noted within the freeway loop of I-17, I-10 and the 101. This provides some slight relief for buyers, but put it in perspective. Today we counted 1,361 single family homes listed for sale between $150K-$200K and there were 1,311 sold last July. Listings under $200K make up 17% of inventory and 35% of sales so far this year. The market is still very tight.