Here are 7 things that tell me buyer's have most of the leverage in real estate right now.

 

  1. The amount of transactions with Seller Paid Closing Costs increased 156% since April. 
  2. In July, homes took 40% longer to sell than they did in April. 
  3. The Median Sales Price in Gilbert has dropped by $13,000. 
  4. Listing Success Rate has fallen by 27%.   
  5. The Cromford Market Index, which measures supply and demand statistics within Maricopa County has plummeted 420 points and nearly 80% in just 12 weeks.
  6. The amount of active listings has grown astronomically by 238% since April.
  7. Even iBuyers, such as Opendoor and Offerpad, are having difficulty selling their listings with a 320% growth in inventory since April. 

If you have been sitting on the real estate sidelines, now might be the time to get back in the game!