Scottsdale, AZ is one of the top VRBO and Airbnb destinations. You can purchase a home with with VRBO history, and rental income, such as this one below, earning $90,000 in rental income. This property has an astounding 10% Cap rate. This Scottsdale location is highly desirable, close to the airport, and has a backyard that will attract vacationers. Call or text at 602.697.0029 for your in person or video tour.
In every sector, the contract ratio is down from March, and in some it is now lower than this time last year.
Most cities are seeing their CMI drop quickly now as inventory rises. Because supply has been so low recently, the increases are large in percentage terms. For example Chandler has 150 active single-family listings (excluding UCB and CCBS) which is double the 75 it had at the beginning of April. However, the long term average count for Chandler is 940 and the maximum we have measured was 2,481. So 150 would seem very low if we had not seen 75 three months earlier.
Mid Month Pricing Update and Forecast
Market Summary for the Beginning of July