REAL ESTATE
GILBERT SUN NEWS | JUNE 20, 2021
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Inventory rising – but so are home prices BY MINDY JONES GSN Guest Writer
W
e’ve finally entered into the land of 100-degree digits and man, oh man, it’s hot. Talking about the weather in Arizona is getting about as repetitive as talking about real estate with one exception: while the national news media is clear on what 100 degrees looks and feels like, you won’t get a single commentary that accurately describes the real estate market in Gilbert with any level of consistency across news channels.
Melanie Nemetz
The problem is not so much that people can’t pull the data correctly, but that the interpretations of the data are cloaked in a variety of different emotions based on historical trends, outlier experiences, or inaccurate connections between leading and lagging indicators. And the truth of the matter is that while we can’t predict the future, the closer we get to understanding the local real estate climate, the better we can predict – at least in the short term – what to expect from a consumer perspective. Let’s be clear: we are talking about houses here, not shoes, not handbags, but houses. People need places to live and right now, we don’t have enough
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places for people to live in Gilbert – or across the Valley, for that matter. Period. That is the driving factor – and will continue to be the driving factor – for the extreme appreciation of pricing that we’ve seen in the last 18 months and can expect to see for at least the next six months. Before something can come down, it has to stop going up. These may seem like reasonable economic concepts but with lots of click bait swirling around
the internet, we still have many theories to dispel. The good news is that some level of skepticism is being given rumors of houses appreciating an average $100K in a single year. It means that people haven’t completely lost their sense of reality and it’s likely keeping people from making really bad decisions right now. What is normal: Questioning how the monthly median sales price can rise
see MINDY page RE2
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Our extensive, high quality marketing of your home combined with our thorough preparation of listing the home for sale, will help your home sell faster and for more money. Here is a sample of the marketing for our listings: ◆ Home Staging Report by Interior Designer & Stager ◆ Professional video of home ◆ Professional photos of home ◆ Twilight photos ◆ Community photos ◆ Aerial drone video/photos ◆ 3D Interactive floor plan - Matterport www.fosteringre.com Each office is independently owned and operated ◆ Open house first weekend on the market
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