This meme never fails to entertain and to be true. Never.
And yet, when we literally have access to more accurate data than ever before, it continues to remain prevalent. I challenge every one of my readers to track how many times they have to say, “no prices haven’t gone up recently” and “no, prices aren’t crashing” over the next week. I would love to hear your feedback. And you know what prices are doing? Nothing. In some parts of town they are going up, a little. And in some parts of town they are going down, a little. The swings get bigger the further out of town you go. And the relationship between supply and demand never changes. When demand exceeds supply, prices increase. When supply exceeds demand, prices decrease. When they are about balanced, prices remain flat. Our prices are relatively flat. The median sales price in Maricopa County hasn’t changed a whole lot over the past 4 years. There is no indication of prices skyrocketing nor crashing. It is truly that simple.
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Sarah Perkins is an award winning account executive and has been in title sales since 2004. As the Director of Industry Research & Senior Account Executive, Sarah’s role is to bring real estate transactions to Navi Title. Sarah supports her clients by helping them navigate the ever-changing real estate space through thorough research and understanding of current trends impacting today’s home buyers and sellers.