{"id":1143,"date":"2020-10-23T19:16:10","date_gmt":"2020-10-23T19:16:10","guid":{"rendered":"https:\/\/nohasslelistingblog.com\/?p=1143"},"modified":"2020-10-23T19:16:10","modified_gmt":"2020-10-23T19:16:10","slug":"warp-speed-market","status":"publish","type":"post","link":"https:\/\/nohasslelistingblog.com\/?p=1143","title":{"rendered":"Warp Speed Market"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Talking about the 2020 real estate market causes even seasoned agents who<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"> survived the 2005 run up to shake their heads.\u00a0 This is truly a year that feels like \u201cthere is nothing for sale\u201d.\u00a0 While listings coming to market are lower than last year\u2019s numbers, the truth of the matter is that 30,343 new listings came to market between July and September. (source: Tina Tambour, Cromford Report) The fact is that demand has so outpaced supply that very few listings last on the market for even a week.\u00a0 In fact over half the listings in the 3rd quarter were active only 9 days or less prior to contract.\u00a0 And most of those had multiple offers \u2013 thereby lengthening the time on market just to field all the offers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Unbalanced markets make for unbalanced emotions for agents and their clients alike.\u00a0 Many a buyer, after losing home after home, is tempted to step to the sidelines for a more favorable buyer market.\u00a0 Unfortunately for those buyers, stepping to the sidelines is not a great solution. The median sales price is up 18% since last October with the bulk of the appreciation occurring in the last 4 months.\u00a0 As this strong appreciation in pricing continues, it will eventually dampen demand and increase supply.\u00a0 But at that point buyers will be paying more for the same home months earlier.\u00a0\u00a0 To quote Tina: \u201cAs exhausting and stressful as it is for buyers and their agents, supply and demand measures indicate prices in Greater Phoenix will continue to rise well into 2021. Hopefully the short-term pain will lead to long-term gain for those who ultimately win a successful contract.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/nohasslelisting.com\/wp-content\/uploads\/2020\/10\/October-20-Graphic-714x1024.jpg\" alt=\"\" width=\"580\" height=\"831\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Have questions about buying or selling?&nbsp; We are always here to answer your questions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Russell &amp; Wendy Shaw<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Talking about the 2020 real estate market causes even seasoned agents who survived the 2005 run up to shake their heads.\u00a0 This is truly a year that feels like \u201cthere is nothing for sale\u201d.\u00a0 While listings coming to market are lower than last year\u2019s numbers, the truth of the matter is that 30,343 new listings [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1143","post","type-post","status-publish","format-standard","hentry","category-real-estate-market"],"_links":{"self":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1143"}],"version-history":[{"count":2,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1143\/revisions"}],"predecessor-version":[{"id":1145,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1143\/revisions\/1145"}],"wp:attachment":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}