Somone (Monie) Wilder is a top-producing real estate agent in the valley with more than 700 homes sold under her belt in just seven years — and counting. She is one of Maricopa County’s highest-producing Realtors, a Scottsdale Area Association of Realtors’ Forty Under 40 winner, one of the leading experts on the current real estate market and the regional vice president of the Jason Mitchell Group.
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It’s safe to say Wilder is not only passionate about her industry, but an expert in the market. And she’s debunking some of the current myths, and setting the record straight, about the state of the market.
- NAR changes haven’t vastly changed the market — The buyer’s compensation transparency change that went into effect Aug. 1 isn’t as big a deal as initially thought. Wilder says that across the board, high quality, high-producing Realtors aren’t greatly impacted by the change.However, she notes it does modify the process slightly, as buyers have to sign a compensation agreement before they can even view a house on the market. Wilder says this tends to slow down buyers’ forward motion.
- There is no inventory on the market — False! According to Wilder inventory is higher than it has been in quite some time, with more than 20,000 listings on the market and climbing, with prices holding steady. “We’re going to see inventory rise before it falls,” she notes. “So sellers should position their house to sell and put careful consideration into what they net.”
- Interest rates are climbing — Wilder reports rates decreased in the past month and have actually been steadily dropping for about a year. Mortgage rates are expected to continue to decrease into 2025. However, she notes the market is still not affordable and unfortunately, housing prices are predicted to continue to rise. Despite rising home prices, the percentage of sales under list price is upwards of 57%, indicating a possible market shift.
- The market is at a standstill — There is a gridlock in the market, but this slowdown is relative. The current market is actually normal, but many view it as stalling in relation to the last few years of intense activity. Despite market climate, Wilder ultimately advises buyers and sellers to work with a trusted, experienced agent that can help them create the best strategy for their needs, whether looking to buy or sell a home.
She has been featured on NPR and in Bloomberg Magazine and has poised herself as an expert on the state of the market. Interviews can be arranged with Wilder any time to discuss the state of the market and how buyers and sellers can be successful in any market. For more, visit moniewilder.com.
