The AZ market for nice homes has hit a brick wall

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Jul 18, 2021
12:39:55pm

JOPE Resident Golf Fanatic

The AZ market for nice homes has hit a brick wall

Homes over 500k are not selling like they have been for the last year. Inventory is climbing and homes are not selling nearly as fast. For a year you couldn't get anything in my neighborhood, homes would sell in a day with 20 offers.

Now, there are 7 homes sitting on the market. This according to three realtors in my ward.

The market will level off…and probably dip a little.

This message has been modified

Originally posted on Jul 18, 2021 at 12:39:55pm

Message modified by JOPE on Jul 18, 2021 at 12:41:04pm

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JOPE

Bio page: JOPE
Joined: Oct 4, 2001
Last login: May 4, 2024
Total posts: 46,947 (9,339 FO)

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Messages

Author

Time

Just looked @ my Zestimate. My house has gone up in value 79% in about 20 months

brazilcoug

7/18/21 12:29pm

RE: Just looked @ my Zestimate. My house has gone up in value 79% in about 20

RexIdaCoug

7/18/21 12:31pm

I wish

Backcountry

7/18/21 12:34pm

They wont

Backcountry

7/18/21 12:33pm

It’s true- first time home buyers have been priced out

1984coug

7/18/21 1:21pm

RE: Just looked @ my Zestimate. My house has gone up in value 79% in about 20

Noni Fruit

7/18/21 12:34pm

Hey that's some nice cardboard

TNT

7/18/21 12:35pm

The AZ market for nice homes has hit a brick wall

JOPE

7/18/21 12:39pm

Good to hear.

brazilcoug

7/18/21 12:42pm

I also think zillow bumped their estimates lately, they were lagging behind

JOPE

7/18/21 12:44pm

🤔 I’m only up $42k in the last 30 days. Hard to believe my home could sell for

brazilcoug

7/18/21 12:49pm

It's because they are overpriced and people are tired of the bidding war.

Shore10

7/18/21 1:00pm

Some parts of NY are down as much as25% from the high

Nat Gas Man

7/18/21 5:08pm

Need to build more houses.

7/18/21 12:40pm

Probably have to be dual income families, put off having kids for awhile

Martin Van Nostrand

7/18/21 12:41pm

A good change for society too.

TCuz

7/18/21 12:44pm

I dunno I was kind of hoping to trash millennials for these trends (while

Martin Van Nostrand

7/18/21 12:50pm

In your opinion.

LifeLongLakerFan

7/18/21 1:14pm

It's actually a terrible change. If a country doesn't have at least replacement

CougarTailDevourer

7/18/21 2:00pm

Worked great for Japan. What a brilliant post.

kotacoug

7/18/21 4:04pm

Work remote

7/18/21 12:44pm

My career path will never allow me to work 100% remote.

brazilcoug

7/18/21 12:51pm

Mine neither but I think he was referring to your OP that referenced the younger generation

JohnnyComeLately

7/18/21 12:59pm

Good call. I wonder what % of jobs the 20-25 age range are getting are remote?

brazilcoug

7/18/21 1:02pm

The hope is that more that can work remote choose to do so outside of populated

7/18/21 2:27pm

I’ll be more specific

idacoug

7/18/21 12:47pm

They can live in lower cost of living markets

WDaddy

7/18/21 12:49pm

That's becoming the midwest and the south

TNT

7/18/21 12:49pm

Barstow is another

WDaddy

7/18/21 12:53pm

Because they're getting screwed more and more? Ok.

Shore10

7/18/21 12:57pm

The south and midwest have great jobs and a great lifestyle

7/18/21 1:13pm

And major cities with jobs . . .

Gustav

7/18/21 1:18pm

Atlanta, Nashville, Houston, Dallas, Raleigh, Charlotte, Kansas City, Columbus, Madison, Indianapolis, Birmingham

7/18/21 1:22pm

You kidding? There’s tons. Energy and oil for one.

7/18/21 1:18pm

Many of those markets have better job opportunities than Utah. There’s some

WDaddy

7/18/21 1:29pm

Healthcare.

Backcountry

7/18/21 1:34pm

Higher wages due to inflation with lower interest rates

idacoug

7/18/21 12:58pm

We're screwed and we know it.

JuicyJam

7/18/21 1:01pm

Yes they will, my grandparents were saying this when my mom and dad were

JohnnyC

7/18/21 1:03pm

On another note, keep waiting for CA’s real estate market to collapse.

7/18/21 1:22pm

Problem out here is we aren't building single family homes now. Everything is

bd52

7/18/21 2:03pm

Maybe they could afford a home if management would actually pay them what they’re worth. Instead managers just ride the

RdF3

7/18/21 1:05pm

LOL. Can’t tell if you’re serious. Put in the time to earn what management makes

brazilcoug

7/18/21 1:14pm

He’s probably talking about companies paying guys 40k base

1984coug

7/18/21 1:19pm

My wife and I purchased a home last year making less 100k. It’s in Utah county.

JohnnyC

7/18/21 1:21pm

Down payment? Co signers? What program? Any pre debt? Kids?

1984coug

7/18/21 1:23pm

80k down, no co signers. We sold a townhome we owned.

JohnnyC

7/18/21 1:25pm

So it wasn’t a first time buyer- not the same thing- your asset appreciated

1984coug

7/18/21 1:28pm

Selling your townhome for a 80k down payment one could make the argument you

1984coug

7/18/21 1:29pm

You just made the statement, you can’t purchase home in Utah county under 100k.

JohnnyC

7/18/21 1:32pm

Most young couples rent and don’t buy until they have kids-

1984coug

7/18/21 1:53pm

“Daddies Money” 😂

JohnnyC

7/18/21 2:07pm

And purchasing a home under on <100k assumes you don’t have an 80k egg- thats

1984coug

7/18/21 1:54pm

I don’t think that’s what he’s talking about. And even if he is, rent for 3-5

brazilcoug

7/18/21 1:22pm

Whatever you need to tell yourself to feel good about it.

RdF3

7/18/21 2:32pm

Lol pay them what they are worth….I bet you would like the government to

kotacoug

7/18/21 1:21pm

Its remarkable how few people understand how the market works

Backcountry

7/18/21 1:32pm

“You’ll own nothing and be happy.”

7/18/21 1:17pm

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