The real estate market can be puzzling and unpredictable. In this informative blog post, Gordon Hageman, a seasoned local real estate agent from Arizona One Real Estate, breaks down the current state of the housing market in the Phoenix area. Join us as we explore the phenomenon of a “frozen” market and its implications.
The Frozen Market
Discover what it means when experts describe the real estate market as “frozen.” Gordon delves into the historical context, examining the crash of home values from 2007 to 2009 and the subsequent rise in affordable housing. Learn why homeowners are reluctant to sell their properties in the present market, resulting in a scarcity of available homes.
One of the most significant misconceptions is the anticipation of a foreclosure wave. While the news may mention rising foreclosure percentages, we’ll reveal why they don’t necessarily translate into a massive wave. Understand the true status of foreclosures in the Phoenix area and why they may not pose a substantial threat to home values.
Will an upcoming recession spell disaster for home values? Not necessarily. Gordon provides a historical perspective on how home values have fared during past recessions. Discover why the recession’s impact on the housing market may not be as catastrophic as some fear. We’ll also delve into the substantial home equity that many homeowners currently hold and how it can act as a buffer against falling home values.
Weekly Market Statistics
Stay informed with the latest market statistics. Gordon shares the most up-to-date data to keep you in the loop about what’s happening in the Phoenix housing market.
If you’re intrigued by the current real estate market conditions and want to gain a deeper understanding, this blog post is a must-read. Gordon’s insights will shed light on the housing market’s “frozen” state, debunk foreclosure myths, and explore the potential impact of an upcoming recession. Subscribe to our channel for more valuable updates and insights.
Have questions or comments? Feel free to reach out to us. Your satisfaction is our priority, and we’re here to provide you with valuable information on the real estate market.