What would you do for $10,000?If you follow my content from Facebook, Instagram, TikTok, or YouTube, I would LOVE for you to give a silly and fun reply to this question.

My suggestion to the above question...

Home Buyers between $225,000 up to $600,000 are being gifted a median amount of $10,600 from Sellers to buy a home. (Median: half of all closed homes have gifts/concessions below $10,600 and exactly half are above that number.)

And that is just the median number. What if you could get even more from a Seller?

Is now a good time to buy a HOME?My answer: It depends. If you intend to live indoors and in the Valley of the Sun for the next 5 years, then BUY NOW.

How much money can a Seller contribute to my closing costs and more?Answer: It depends on the loan type. Most loans allow for a combination of the following: Seller paid concessions to cover closing costs (misc. fees related to closing escrow in Maricopa county), Buyer's Agent's compensation, home warranty, prepaid HOA, buying down the mortgage interest rate, and more.

How can you learn more?

Don't cry. This, too, shall pass.

The above chart is for Maricopa County homes sold between 1500-2000 sf so we could discuss how the Valley is doing. As always, certain areas will be doing better than others.

On June 15, the pending listings for all areas and types show an average list price by sf of $319.39, down 1.4% from the reading for May 15. This suggests that closed prices are likely to weaken again during the next 4 to 5 weeks.

SUMMARY:

This chart shows how each zip code is performing.

Green means there is a balance between buyers and sellers, neither side wins in a tug-of-war.

The darker the blue sections represents how much more a buyer can pull a seller across the winning concessions line.

Yep, this time is fabulous for Buyer and not-so-great for Sellers overall.

Was this what you were expecting to see? Let me know.

Nancy Wittenberg