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Phoenix Homes August Market Update 2020

Every single thermometer we use to measure our current market, even the ones using mercury, say the exact same thing, we’re on fire. Last month it was stated that “although our market is on fire, a hot market does not necessarily mean we have a healthy market”. In STAT we report current market conditions. These metrics also offer insights as to what we might expect over the next six to 12 months. Beyond a year we’re only guessing. That said, barring another unforeseen event like COVID-19, that sales volume will show year-over-year gains in both August and September, and most likely October. Through the first seven months, sales volume in 2020 is 4.7% lower than 2019, with 5 positive months and 2 dismal months.

As for the longer term, nobody knows how long our market will last, but we do know the extreme measurements we’re seeing today will eventually change. No market cycle lasts forever.  We don’t have the answers to all the market questions at this time, but for now, if you're looking to buy or sell, give us a call and let us take that off your plate.  We can show you your options and how we can assist you in this hot market. 480-731-4663.

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