The Phoenix Area Magic Week is Here.

By Buying, Jonathan's Articles, Phoenix Metro Real Estate News, Selling January 23, 2023
Historically, the 3rd week of January has been when sales volume seems to magically reverse course from its normal holiday dip. While we’ve started from an incredibly low place volume wise,  2023 has started off very well.
Usually this spike in demand continues through April/May-ish and then volume weakens throughout the summer, fall, and into the winter. We are still watching 30 year mortgage interest rates very closely. We believe that if they stay roughly the same, around 6%, we will experience a slow but steady renewal of demand as buyers become used to the new normal. We are already seeing this.

“…now officially in a seller’s market again.”

If interest rates go down to 5% or below, we actually think this could very easily open a new floodgate of pent up buyer demand. Of course, if the opposite happens, and interest rates go back close to 7% or higher, our Spring optimism could be mercilessly crushed.
On the street level, we can feel a renewed energy in the market. Buyers are coming out, contracts are being signed, and we’ve even heard tell of bidding wars here and there. Nothing like 2021 and early 2022, but things are changing.
The other big news is that according to the Cromford Index, Phoenix as a whole is now officially in a seller’s market again, just barely though! Some areas are experiencing this noticeably, and other areas, like Buckeye and Queen Creek, are still in buyer’s markets.
A good way to think about it is that the outskirt towns are still struggling while the interior areas, especially the higher end ones, are doing very well.
We look forward to keeping you updated as the situation quickly changes!
About the Author
Jonathan Bodeen, Realtor, Team Manager

I had never really considering following my dad's footsteps into Real Estate, and so I see it as a bit ironic that my first foray into the industry was quite by accident, even though, in a larger sense, I now don't think it was an accident at all.

In 2008 I had fallen in love with an uncommonly pretty girl from Idaho and chased her to her hometown of Boise with the hopes of marrying her.  Well, they say it's important to have a job before embarking on the commitment of marriage and it just so happened that the man who rented me a room on craigslist, also happened to be a Top Producing Real Estate Agent that needed an assistant. (Shout out to Sean Taylor, still the best Realtor in Idaho and he will absolutely rock your socks off!)

It wasn't too long after that I became licensed and started trying to chase my own business.  It was rough going.  Turns out folks aren't super eager to work with a 22 year old agent driving a beater car.  But it was there that I learned the importance and meaning of fiduciary, and what it means to put your client first.  Also, that you mus earn your client's business.

After a brief back-to-school stint to try and finish my bachelor's degree in biblical studies, my dad, the legendary Mike Bodeen invited me to work with him back in AZ.

So the Mrs. and I have been living back in the land of the sun where I've been working with my dad helping to build the family business since 2013. We have two wonderful little girls now and lots of hopes and dreams for us and for them. Real Estate can be tough, when it's been a little too long since your last sale and bills are due, or when a lender or title company is botching a deal and you have to sew it back together.  But I'm so lucky and blessed to have a job where I can work largely from home and watch my little girls grow up.

Too boot, I've discovered the great joy of working hard for your client's best interests and surprising them with excellence. I derive a great deal of personal satisfaction from being instrumental in my clients success. 

I am quick to return phone calls, texts, and emails. I always strive to give my clients all the options possible and the pros and cons of any situation. Ultimately, my quest is to make Real Estate easy for you!