Phoenix Housing Market Insights: Listings Pulled & Longer Days on Market
Why are so many Phoenix homes disappearing from the market?
Here’s a hint: it’s not because they’re selling!
In fact, 30 out of every 100 listings were pulled in May the highest rate in the entire U.S.
So what’s behind this trend? And what does it mean for buyers and sellers?
Valley Homes Are Sitting Longer
Nearly 50% of homes for sale in the Phoenix area have been on the market for 60 days or more.
In the past, these would be considered “stale listings”, but now this is common.
Why is this happening?
Many sellers are sitting on a ton of equity but instead of adjusting price, they’re choosing to wait it out... or worse, pulling their home off the market entirely.
Phoenix Leads the Nation
In May, 30 out of every 100 listings in Phoenix were pulled from the market. That’s the highest rate in the U.S.; a clear sign that many sellers are choosing to wait rather than adjust their price.
So what does this mean for you?
Buyers: Don’t overlook listings just because they’ve been sitting. There may be room to negotiate.
Sellers: Pricing right from the start is everything in this market. And bring your patience to the listing experience!
Ready to talk strategy? Let's chat! #602-421-2324
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