Скачать или смотреть Arizona Real Estate Market September 2023

Hey folks, welcome back to Yuma Spotlights! Today, I've got a sizzling update on the Arizona housing market.
If you're into real estate, then this one's for you!
You know, a lot's changed in the Arizona housing scene, especially when comparing numbers from July 2023 to July 2019.
For instance, close home sales? Dropped by 39%! Yikes! That's not a tiny number! So, hang tight, 'cause we're diving deep into the details.
First, a shout-out to the Arizona Realtors Association.
Their fresh data from July 2023 gave me some cool insights.
This report isn't just about single-family homes; it's about condos, townhomes, and apartments too.
Alright, quick spotlight on house inventory.
The Realtors define listings as active and pending home sales.
To me, the juicy bit is really the active listings – that's the homes actually up for grabs.
Now, according to altosresearch.com, active listings for July 2023 are down by over 30%! We've got roughly 11,359 homes up for sale.
Compare that to last year? A whopping decrease of 37%.
See, last year at the same time, there were almost 18,000 houses on the market.
And check this out.
Compared to 2019, we're down by a big 53%! Can you imagine? We had about 24,427 homes available then.
That’s a lot fewer houses up for sale now.
Now, switching gears to closed home sales July 2023 had about 7,639 closed sales, which is 9.8% less than the previous year.
That's huge! Dive deeper, and the numbers look scarier.
Compared to 2021, it's down 38%, and if you go back to 2019, it's down by a massive 39%.
But hey, it's not all gloomy news! Home prices in Arizona have been climbing the ladder.
July's median sold price? Almost $358,000.
That's 6% higher than 2022.
And just for kicks, in July 2019, it was only $245,000.
That's a whopping price jump of 46% since then.
Crazy, right?
There's more.
Supply in the market is pretty low, just around 3.15 months.
Now, some folks say we need a 6-month supply for a balanced market.
But in my opinion, if supply doubled, buyers would have a field day, taking the lead.
Lastly, let's talk price reductions.
About 38% of Arizona properties had price drops recently.
But here's an interesting tidbit: while the national average has been increasing since spring, Arizona's rate has been dropping a bit, from 41% in late April to the current 38%.
Pretty cool, huh?
To sum it up, the Arizona real estate scene? It's wild! Fewer homes are available, and closed sales have dipped.
But, home prices? They're flying high! With the current home inventory situation, prices are feeling the upward push.
But how long will this roller-coaster ride last? Well, you better hit that subscribe button, 'cause I'll keep you posted!
Alrighty, team! What did you think? Drop your thoughts in the comments below.
And if you've got questions or need more details, hit me up anytime.
Remember, Yuma Spotlights is here to shine a light on the info you need!
Have a rockin' day, and I'll see ya in the next video!