Phoenix Real Estate Market Update August 2021 - Arizona Realtor - Video link: https://youtu.be/RVKQtvbEn8c

Price cuts and more housing supply. Slowly but inexorably, the market has finally begun to shift. Even in this highly competitive environment, sellers who ask for far too much are beginning to face the consequences: homes that stagnate on the market, unsold. Many buyers are hitting their financial limits. And that means that while plenty of homes are still receiving multiple offers, others are undergoing price cuts. Price cuts could signal a turning point in the market, but they may also just be a sign of sellers getting ahead of buyers in pricing. So where are buyers most likely to see price reductions? Nationally in the July data, about 45 cities from the top 300 largest showed an increase in the number of homes with price cuts. For buyers, these trends hold the promise of a less frenzied market, with more choice and better prices. In Phoenix metro, we are generally seeing this above the $500,000 price point. To be clear: Home prices are still up by double digits in most of these cities compared with last year. The national median list price reached $385,000 in July, nationally. That’s up 10% compared with last year, as there are still more people searching for homes than there are homes to go around. But some market normalization seems to be creeping into the picture. Price cuts are typical even in the healthiest housing markets, and usually a sign sellers missed the mark. While it varies by place and season, the share of listings with price cuts typically ranges from about 10% to 20%. They are most likely to happen from midsummer to midfall as sellers who haven’t found a buyer get more aggressive with pricing. If you are new to our channel, I am a Real Estate Broker / REALTORS / Investors here in Arizona, serving the valley for over a decade and a half helping investors, builders, traditional home sellers and buyers. I also do real estate 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, from traditional resale/multi-family investing, flipping homes, wholesaling/assignment contracts, lots/new build development, etc. Real estate investing is our main specialty. It has completely changed our clients lives and even our own personal lives forever, for the better (even if you are not a Realtor which you don't have to be to know how to do this), 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. Cheers from sunny beautiful Arizona, Thanks for watching. Send YOUR stories/questions/need advice to: info@buyandrentaz.com Looking to buy, sell, or invest in real estate? Send us message or give us a call at 480-788-4118. We would love to help you with your real estate journey. Awni and Chantell Abbas "AWNTEL" Realtors specializing in Real Estate Investing Sell • Buy • Invest • Multi-Units • Tenant Placement for Landlords 480-788-4118 http://www.cenphxliving.com - ⚠️SUBSCRIBE to our Youtube Channel: https://www.youtube.com/buyandrentaz​​