PHOENIX (AZFamily) — Phoenix has more homes being pulled off the market than any other city in the country, according to a new report.
In addition to high prices, rising interest rates and new tariffs, the Arizona Association of Realtors (AAR) said the Valley’s extremely hot temperatures are a major contributor to buyer hesitancy.
Phoenix leads the US in homes delisted, according to realtor.com.(AZFamily)
If you are trying to sell your home right now and don’t know if you should delist it, AAR President Sindy Ready said that consideration isn’t a bad thing.
“In this market, it can help the seller with delisting because they can take it off the market and start over at the end of the summer just like it’s a new listing,” Ready said.
She said if you’re trying to sell your home, you need to make sure it’s in good shape to intrigue buyers with quality and less repairs.
If you’re looking to buy your forever home, Ready said delistings could work in your favor.
“If you saw a house delisted, tell your agent to call the other agent and see if the seller is still interested in selling because you may be in a situation since it’s not on the market, you might have a better opportunity to negotiate with that agent before it even goes back on the market,” Ready said.
Ready is hesitant to call it a “buyers’ market” right now because sellers are still standing firm on their prices. She said more homes will be available when the temperature cools down. However, if the Federal Reserve cuts interest rates this month, she said this could benefit you as a buyer or a seller.
The Federal Reserve’s next meeting is Sept. 17.
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