Our Take On The Arizona Real Estate Market
National data suggests that 2016 will be housing’s best year in a decade. That’s welcome news for consumers and even better news for those of us in the Arizona real estate market. Industry experts expect the market to post a 4.8% increase in existing home sales.
This gives consumers greater home value and in turn creates positive economic conditions for the economy. Economist Peter Muoio states “the housing market stands on solid ground despite global economic volatility and GDP growth, with the firmer labor market and enhanced household budgets from low oil providing a boost to consumer confidence.” That’s good stuff from a guy with too many vowels in his name.
Those of us in real estate can expect this brisk pace to continue. Inventory levels remain relatively low and home price appreciation continues to outpace wage growth. That has lead to slightly higher sales growth nationally for the first four months of this year.
At Tru Realty, we are experiencing growth that far outweighs national averages. With our rebrand in place, marketing outreach in full swing and our new offices set to open, we are posting record breaking performances.
We recently closed the book on first quarter and here are some numbers for March that give us confidence that we are doing things right at Tru Realty:
– The number of deals we did year to year increased by 100%
– Our revenue generated by deal volume increased by 183%
– The average transaction size for our brokerage increased by 23%
I can say with some certainty that we are probably the fastest growing brokerage in the Valley. I am thrilled with the efforts of our team to have such a great quarter. All that being said, we realize too that there are significant shifts taking place in Arizona real estate. Old guard brokerages are fading while new, vibrant and forward thinking brokerages are capturing the attention of consumers.
In order for us to sustain our growth we must continue to provide the very best customer service while attracting the best and brightest agent talent in the market. We also must embrace technology while readily adapting to consumer trends that can marginalize the realtor’s role in the buying or selling process.
We are on to great things at Tru Realty! We will build on our success we had in first quarter for the benefit of our cherished clients, our gifted agents and our many valued partners who support our efforts to be difference makers in the world of Arizona real estate.
– Sarah Richardson
Sarah C. Richardson is one of the preeminent leaders of residential real estate in Arizona. As the CEO and founder of Tru Realty, she is responsible for both the daily operations and oversight of the multiple growth strategies that the brokerage carries out. Sarah launched Tru Realty in 2010 as a way to serve a marketplace that was seeing a shift from auction centric fix/flips to an MLS flow. She is now rethinking the way her brokerage uses technology to better serve clients and agents alike.