There were signs in the fourth quarter of 2021 that the red-hot housing market was beginning to simmer down. In the month of October, only 60.3% of sales involved a bidding war down from a high of 74.5% in April. This is national data though, and I'm not sure it reflects the wild Seller's Market with Scottsdale real estate, where prices increased in the double-digit percentage points. While this trend could be attributed to seasonality, it could also be a signal that the real estate run-up may have passed.
Mortgage Rates Will Definitely Increase
Because I sell Scottsdale real estate for a living, I keep abreast of the market. I've been through multiple recessions, Buyer's Markets, Seller's Market (it went crazy when rates dropped to 8.5%), and…
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