Real Estate Market Update Phoenix Arizona May 2021

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Real Estate Market Update Phoenix Arizona May 2021

The Phoenix, Arizona real estate market has significantly increased in pricing over the past several months! As we are now in May 2021, there are plenty of things to watch for in the coming months.

Inventory remains in record lows while demand has cooled in the past six weeks. New mortgages are starting to decrease.

Inflation is a hot topic right now, yesterday with fears that inflation will reduce purchasing power and investment dollars.

Gas is a hot topic as well. A recent cyberattack with a major pipeline has caused panic buying across the nation. Unfortunately this will case a short term squeeze in gas prices as supply is reduced.

Prices continue to increase and inventory is making a slow comeback, but remaining buyers willing to purchase remain high. Competition remains tough with multiple offers on the few homes that are available.

***If you have any referrals for anyone moving into the Greater Phoenix, Arizona area, please send them to bryanbaylon@baylongroup.com or 602-410-0827.***

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Looking for homes in the Phoenix, Arizona area or the surrounding cities?? Check out the link below to start your search now!

https://bryanbaylon.kw.com

Bryan Baylon, Realtor
602-410-0827
baylongroup@gmail.com
baylongroup.com
@thebaylongroup
linkedin.com/in/bryanbaylon/
facebook.com/thebaylongroup
**A Referral Is The Best Compliment/Thank You I Can Receive**

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