A question that’s been running through my mind, is where is the inventory increases in the existing homes market coming from?
Is it demand destruction simply causing it to build? Is it that thousands of more families suddenly had the urge to sell and not buy? Is it people with multiple homes (investors or wealthy) selling “at the top”?
I guess I’m wondering if it is primarily from investors dumping properties from empirical evidence in Phx area. Existing homes I have seen listed many fall into one of these categories (and yes it’s a judgement call/best guess on many of them):
Rentals – previously listed as such, or super dingy and beat up, or 1 photo with “needs TLC” Flips – bought & sold within a few months AirBnB – popular in Scottsdale, hard to describe other then they have the AirBnB “look” Someone Died / Aged Out – hasn’t been updated in 20-30 yrs, pink & fuzzy wallpaper
I’m focused on the Scottsdale AZ area market, but I’m curious: is the same across the country that many of the homes being put on the market seem to be investment homes?
submitted by /u/Charming_Hawk9123
[link] [comments]
A question that’s been running through my mind, is where is the inventory increases in the existing homes market coming from? Is it demand destruction simply causing it to build? Is it that thousands of more families suddenly had the urge to sell and not buy? Is it people with multiple homes (investors or wealthy) selling “at the top”? I guess I’m wondering if it is primarily from investors dumping properties from empirical evidence in Phx area. Existing homes I have seen listed many fall into one of these categories (and yes it’s a judgement call/best guess on many of them): Rentals – previously listed as such, or super dingy and beat up, or 1 photo with “needs TLC” Flips – bought & sold within a few months AirBnB – popular in Scottsdale, hard to describe other then they have the AirBnB “look” Someone Died / Aged Out – hasn’t been updated in 20-30 yrs, pink & fuzzy wallpaper I’m focused on the Scottsdale AZ area market, but I’m curious: is the same across the country that many of the homes being put on the market seem to be investment homes? submitted by /u/Charming_Hawk9123 [link] [comments]
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