Real estate markets tend to go through differing cycles as they recover from a downturn and this has been continually evident in the Phoenix market as a whole and the Gilbert Gateway area as a microcosm of that whole.
The signals we’re seeing are potentially ushering in a buyer’s market for the Gilbert Gateway area as indicated by recent statistics showing increased inventory and reduced demand for homes on the Multiple Listing Service.
One of the main factors for this has been rising prices and reduced investor interest. More homes on the market mean more choices for buyers and the ability to negotiate purchases more in the buyer’s favor.
The continuing changes in the market are well chronicled by Mike Orr, Director of the W.P. Carey School’s Center for Real Estate Theory and Practice at ASU. http://knowledge.wpcarey.asu.edu/article.cfm?cid=25&aid=1442
Should you have any questions regarding the data in the report please call or email us at Pivotal Real Estate Solutions for clarification and discussion of your options.