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Our Phoenix housing market has been slowly turning for the past few weeks now and we are seeing some changes. Just to let everyone know I am a Real Estate Broker here in Arizona, serving the valley for over a decade and a half helping investors, builders, traditional home sellers and buyers. I also do consulting services, if you're looking to learn how to actually invest in real estate and gain wealth through real estate, learn creative strategies like rent to owns/lease option contracts (even if you are not a Realtor which you don't have to be to know how to do this), notes, I can help. Make sure to like this video and Subscribe to learn more winning strategies and stay on top of the real estate housing market. Back to the stats/numbers: Supply is still insubstantial to meet the buyer demand. Fewer new home buyer contracts are getting signed. More home seller listings are getting cancelled. More purchase contracts are falling through. Fewer escrows are closing. There are more new listings that came on the market, especially below $400,000. Avg media price is $300,000 currently in Phoenix Arizona. Mortgage interest rates are currently in the low to mid 3's. Encouragement here is to buy and/or if you are a current homeowner, now may be the time to refinance. We will see home prices drop, not significantly at this time, but we are seeing 3-5% drop, particularly the luxury market (above 1M). Buyers will have some potential negotiation leeway over the next few months. However, sellers still have the clear advantage and there is no downward pressure on prices in the lower price points, as we are still at a 2 month’s supply, which has gone up over the last week. Remember 6 month’s supply is a balanced market, and when we start to hit 7+ months, we will be in a buyer’s market, and that's not happening anytime soon. We would have to see this current trend continue for several months if not longer, in order to even see a balanced market, never mind a buyer’s market. If you want to take advantage of this market, call me or send me a DM. Remember real estate is a long term Asset. Aside from flipping, real estate has always been Long term. People need a roof over their head, and you may as well capitalize on the equity position so you can secure your future with your real estate investments and gain some cash flow income. Thanks for watching. Awni and Chantell Abbas "AWNTEL" Realtors specializing in Real Estate Investing Sell • Buy • Invest • Multi-Units 480-788-4118 - ⚠️SUBSCRIBE to our Youtube Channel: https://www.youtube.com/buyandrentaz Hit the BELL icon to turn "ON" your notifications for new weekly videos. We share strategies, Real Estate investing advice, Insider news & current market updates. FOLLOW US on Instagram @awntelrealestate