Buyers Gain Upper Hand...

Buyers gain upper hand as homes sell less quickly, reports that the number of listings Valleywide are up, housed are taking longer to sell, and Buyers now have the upper hand in our real estate market. The number of homes on the market has nearly tripled in the past year, according to the Arizona Regional MLS. The reasons why? Speculative investors are selling after realizing gains of 40 to 50 percent. Prices are higher and buyers, including investors, are saying "no" to these higher prices. Mortgage rates have nudged higher, making housing even more expensive. Valley homes have not bee so difficult to afford since 1990. Incomes are not keeping pace with housing price increases.