What’s Happening in the Housing Market Right Now?

By Erik Kelly

Erik Kelly has been a top-producing real estate professional since 2002 and a proud Phoenix resident since 1996. His deep community ties and industry reputation have enabled him to build a thriving, referral-based business.

Are you wondering what’s happening in the housing market right now? More homes are coming to the market, which means you might have more competition if you’re looking to sell. To help you stay informed, I’m breaking down the latest information from our housing market, including home prices, what it takes to sell, and more.

Why is the market competitive? One of the biggest reasons for the increased competition in the housing market is the historically low inventory we’ve seen over the past couple of years. Many sellers are hesitant to move forward because they’re locked into low mortgage interest rates. If you’re a seller in this situation, you might be hesitant to make a move because you don’t want to lose that low rate. As a result, fewer homes are available, and the competition among buyers is growing.

Home prices are going up. You may have noticed that prices have been increasing, though slowly. Over the past few years, we’ve seen steady price growth. Some sellers have priced their homes too high, which led to price reductions that can be a little misleading. For buyers, this can seem like the market is dropping, but what actually happened was that the sellers didn’t price their homes right from the beginning. It’s important to remember that home prices are still increasing, just at a slower pace.

Home condition matters. When it comes to selling your home, how you present it matters more than you might think. Many buyers have a hard time seeing the potential in a home, so how we present it to the market can really impact the final sale. The condition of the home and the way it’s shown can drive buyer perception and influence their offer. This is one of the three critical elements of successful home selling—presentation, presentation, presentation!

Uncertainty in the market. I understand that making a move can feel uncertain right now. Whether you’re buying or selling, the changes in the real estate industry since 2020 have left many people unsure of what to do next. If you’re thinking about buying or selling in 2025, it’s essential to have a real estate professional on your side to help navigate these challenges. It’s helpful to work with someone you know, like, and trust, who can guide you through the process.

If you’re ready to make a move in 2025, don’t go it alone. You can call or text me 480-382-6444 at for help. Whether you’re looking to buy or sell, I’m here to help you make the best decision in this competitive market.