2020 Phoenix/Scottsdale Real Estate Market Predictions

Jeff: Entering the year in a 14 year low with 12,279 homes in the market this morning. I expect to leave the year at around 15 or 16,000 homes.
Sharon: Okay.
Jeff: So I expect supply this year to rise, last year we came in with 16,000 and we went down to 12,000, that’s where we’re coming in now, but I think that the pending election is going to slow demand because that’s what happened last time. Because 16,000 is still a 14 year low, rising supply actually will not cause depreciation. It’s just going to appreciate slower in the back half of the year. I think we’re going to come in with fire. I think the market is going to take off, I mean on an annualized basis, I expect for appreciation rates to reach over 10% in the first half of the year because there is not much available and there is not a lot of demand.
Sharon: I wondered if you are a buyer in 2020, is this the year to buy?
Jeff: Yes.
Sharon: Because?
Jeff: Well, because interest rates are low. Rents are rising.
Sharon: It’s crazy.
Jeff: And we still see supply low. I’m expecting the market to continue to appreciate. I think it’s going to appreciate faster in the first half of the year and slow down a little bit, but overall not steep, not keep on appreciating through the whole year and and forward.
Sharon: It’s a good time to buy now.
Jeff: It’s a very good time.
Sharon: Good conditions for buyers.
Jeff: Yes.
Sharon: Is 2020 the year for you to sell your house?
Jeff: Yes is the answer. If it’s “I need, I know I want to sell in the next five years”. It’s always better to sell in a thrifty market that’s moving quickly because the enemy of a seller right now is days on market and when there’s more supply, it increases days on market and therefore you might not get top dollar. So I can guarantee sellers that it’s a good time to sell now. In the future, I don’t know. I mean maybe the election makes it worse. I mean, we’re predicting the future for God sakes. Thank you. That was our 2020 predictions. I’m Jeff Sibbach.
Sharon: I’m Sharon Wisniewski .
Jeff: We’re the Sibbach Team, whether you’re buying or selling, just make sure it’s with us.
Sharon: Just call us.

Call us today to sell your home for top dollar or find your next home. 480-500-1738

thinking of selling

Tags: ,

Exact matches only
Search in title
Search in content
Search in posts
Search in pages

Ready to talk? Call us today.

480-500-1738
  • #1 AZ Real Estate Team

  • Best REALTOR® In The Valley 2017

    - Nominee

    Finalists will be announced in October 2016

  • Top Ranked Real Estate Team

    - Phoenix Business Journal

    2015, 2016

  • Top 10 Buyer’s Agent

    - by Sales Volume

    Homes & Land Magazine 2015, 2016

  • Top 10 Producing Agent

    - by Sales Volume

    Homes & Land Magazine 2011, 2012, 2013, 2014, 2015

  • Top 1% of REALTORS®

    - in Maricopa County by Sales Volume

    Arizona Regional MLS 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016

  • Real Estate Agent of the Year

    - Finalist

    AZ Business Magazine – 2014

  • #1 Real Estate Team

    - in Arizona

    Ranking Arizona – 2014

  • #1 Agent by Sales Volume

    - in Arizona

    Realty One Group, North Scottsdale Office -2015, 2016 Realty One Group, Scottsdale Office - 2011, 2012, 2013, 2014 Realty One Group, National - April 2014

  • Gold Zone Award

    - in Arizona

    Realty One Group, National - 2014, 2015, 2016

  • Real Trends

    (National REALTOR® Rankings)

    Best Real Estate Agents in America 2014

See More
  • Date: 07/07/2020

    Source: Zillow

  • Date: 07/12/2020

    Source: Zillow

  • Date: 07/24/2020

    Source: Zillow

  • Date: 07/22/2020

    Source: Zillow

  • Date: 07/29/2020

    Source: Zillow

See More