2022 — What To Expect in Phoenix

I know, I know… Everyone’s asking what does 2022 hold in store for real estate in Arizona. I would have to say that this year will be exactly the same as 2021, but with less activity. Home prices will rise, but much more slowly than 2021. The one thing that still causes the home prices in Phoenix right now is the fact that we have very little inventory for such a big city. In the past, when we needed supply, builders would build new construction to take up the slack of what was not available. Unfortunately, due to exponential price increases on building supplies, new home builds went down in 2021. This is the first time in 6 consecutive years that new builds went down.

So, with inventory being so scarce and no market crash in sight, I would have to say that if you are a seller, it is a GREAT time to sell. If you are a buyer, believe it or not, it is also a GREAT time to buy. It is always a great time to buy a home in an advancing market, especially when there is no inventory available. It’s all about Supply and Demand. Give me a call if you need any help. #mikeblackrealtor @sellingarizonanet