3 Reasons Why Our Housing Market Is Cooling Off Slightly

Friday, August 13, 2021   /   by Ryan Nager

3 Reasons Why Our Housing Market Is Cooling Off Slightly



Here’s why things in our market seem to be getting back to normal.


It seems like things are slowly beginning to get back to normal, both in day-to-day lives and in our real estate market. Here are the three reasons why the blazing-hot market is starting to cool off slightly:

1. Fewer multiple-offer situations: Since March, there’s been a decline in the number of bidding wars on homes. This doesn’t mean they’re gone entirely, but they’re certainly not as rampant as they were six months ago.

2. More listings: In July alone, we saw more listings come onto the market than we did over the previous 10 months. This means buyers have enjoyed more options to choose from when looking for a home.


"I believe a lot of these changes have to do with buyer fatigue."

 

3. Homes aren’t selling as quickly: Listings are staying on the market for a slightly longer amount of time before they’re sold. Again, this allows buyers to have more options to choose from.

I believe a lot of these changes have to do with buyer fatigue. Many buyers became frustrated and exited the market after dealing with fierce competition, writing losing offers, and attending dozens of showings for homes. It's still a seller's market –– we're not seeing a total shift, but
there are certainly many more opportunities available now for buyers.

If you have any questions or would like more information about our market, feel free to reach out to me. I look forward to hearing from you soon.

© 2021 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Stunning Homes Realty are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. October 16, 2021
© 2021 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. October 16, 2021
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