Your Latest Update on the Housing Market

Here’s what you need to know about the state of our housing market.

By Jason Penrose

Jason has been licensed since 1999, and is currently one of the top 20 agents in Arizona for homes sold.

Let’s Explore Your Selling Options. I’ll help you sell your home at the price and terms you want. Free Selling Strategy Call

Let’s talk about January 2024 and how the market looks. We had about 18,530 active listings this year, which is pretty much the same as last year. Pending sales are down by 4.3%, with 7,655 this year compared to 8,018 last year. Similarly, pending sales are also looking flat, from 3,916 last year to 3,906 this year. The inventory remains unchanged at a four-month supply, indicating it’s still a seller’s market.

Despite this, homes are staying on the market a bit longer. However, people are still buying and selling because interest rates are still under 7%. The Federal Reserve chose not to cut rates due to concerns about inflation and unemployment.

Even though the market is stable, I’m here to assist anyone looking to buy or sell a home. Feel free to share this information with friends and family. You can reach me anytime at 602-738-9943. Have a great day!

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I’ll price your home competitively and attract the perfect buyer

Are you thinking about selling your home here in Phoenix Arizona Metro Area? There are a lot of ways to do that now, and I’ll help you understand all your options. It starts with a home selling strategy call so I can better understand your needs, goals, and timeline for your move. I also want to see the condition and unique features of your home. Once I have that research, I can help you understand what program is best for you. Maybe it’s an upfront cash offer with the best terms, or possibly we remodel it to attract the modern buyer, or we can list it traditionally as is with beautiful marketing. I also have loan programs to help you buy your next home before you sell so it’s not so stressful when it comes to timing your sale. I’ve been selling real estate for 25 years here in Phoenix Arizona Metro Area with 2,521 transitions under my belt and 432 reviews on Google and Zillow. If it’s time to sell your home, I can deliver you a fast, stress-free home sale with the confidence you need to move on with your life. You can subscribe to my Phoenix Arizona Metro Area real estate newsletter so we can get to know each other, you can request a free home value estimate so we know what your home will sell for today, or book a free home selling strategy call with me to get the process started where I first learn all I can about when and why you want to sell your home.

Sell Your Home With Confidence

I’ll handle everything to close on time at your price and terms

I help you price your home competitively

I help you market your home to potential buyers

I help you sell your home within a specific timeframe

I help you navigate the paperwork and negotiations to settlement

What Our Clients Say...

"We were screwed over by other realitors when hunting a new home so we wanted the best -- so we reached out to the Penrose Team. Jason set us up with Melani and Meranda who were all 5 Stars! Meranda send us closing updates without us having to ask. I would check my email and have the latest seller receipts etc. It was an easy transition. Melina also went above and beyond in finding our perfect place. Highly recommend this realitor team for buying or selling."

- Gary Tincher

"We recently purchased a home with the help of the Penrose team. While our experience with the main agent left something to be desired (who is no longer with the team) I want to highlight the exceptional service provided by Meranda, our closing agent. She was hands down the most helpful person on the entire team. Meranda was knowledgeable, attentive, and always available to answer our questions. She guided us through the closing process with ease and made what could have been a stressful experience smooth and manageable. We truly appreciated her professionalism and dedication. If you're considering working with this team, I highly recommend asking for Meranda. She made all the difference in our home-buying journey."

- Wonney Jang

"Amazing experience - Even 5 star rating truly doesn't reflect the quality of service i received from Penrose Team. I live in east coast and i made a good choice by selecting Penrose team to sell my property in Phoenix AZ. The house needed lot of work, Jason and his team took care of everything by lining up different vendors, sending me multiple competitive repair quotes, verifying the work is done as per satisfaction. Finally they listed the house and within a week the house the was sold. All the steps from start to finish were transparent to me as a seller. I strongly recommend this agency for those who are looking for smooth, trustworthy and hassle-free transaction. Well done Penrose team !!!"

- Mukesh Tripathi