Community News

June 14, 2021

Phoenix Real Estate update for June 2021

Should Buyers Wait to Buy?
Median Sales Price $390K, up 32% from 2020

For Buyers:
There’s a lot of conflicting advice for buyers online these days, and there’s no shortage of headlines advising them to wait. Many authors cite the unpleasantness of multiple competing offers and rising prices as the ...

View More
March 26, 2021

Nation Eviction ban is set to expire at the end of March

The national eviction ban is set to expire at the end of March. The CDC likely will extend it

 

KEY POINTS
  • The Centers for Disease Control and Prevention may be moving to extend the ban on evictions across the country. 
  • Housing experts say to truly stop evictions during ...
View More
Posted in Community News
Jan. 19, 2021

Phoenix Real Estate update for January 2021

2020 Broke the Record for Luxury Sales
Supply Down 51%, Slim Pickings in 2021

January 2021 real estate update

For Buyers:
There were 111,036 new listings added to the Arizona Regional MLS (ARMLS) in 2020, only 38 more than 2019, while 100,650 sold.  As of January 10th, 2021 there were only 6 ...

View More
Dec. 15, 2020

Phoenix Real Estate update for December 2020

Supply Down 48%, Contracts Up 35%
CARES Act and Eviction Moratorium Due to Expire December 31st

Phoenix real estate update for december 2020

For Buyers:
Existing protections in place for homeowners during times of financial hardship have come to the forefront in 2020.  While both renters and homeowners alike were struck with unemployment and loss of ...

View More
Sept. 17, 2020

Phoenix Real Estate update for September 2020

Wow! 17% Spike in Contracts over $600K in August
34% of Homes Closed Over Asking Price

For Buyers:
The first few weeks of August saw a surprising 17% spike in listings under contract over $600K. This is highly unusual as typically contract activity declines in the 2nd half of the ...

View More
May 12, 2020

Real Estate update for May

Pandemic Effect: Closed MLS Sales Down 31%
Look Who’s Back: Weekly Contracts Up 40% in 4 Weeks

 

May Phoenix Real Estate update

For Buyers:
Greater Phoenix contract activity dropped 39% over the course of 6 weeks  between March and mid-April.  The effects of those declines are now being reported over a month later ...

View More
April 15, 2020

Phoenix Will Put Real Estate Sales Returns Into General Fund During Pandemic

Phoenix Mayor Kate Gallego said Tuesday that the city will put all returns it earns from city real estate transactions into its general fund during the pandemic. That includes $6.8M of transactions that originally came from the fund and will now be used to offset a budget deficit.  Gallego made the ...

View More
April 14, 2020

Real Estate update for April

Pandemic Puts Housing in a “Pinch”
COVID-19 Aftermath: Good News for Normal Buyers

 

For Buyers:
The kickoff of 2020 was developing into a nightmare for normal buyers who just wanted to find a place to live.  Extreme competition for homes between wholesalers, cash buyers, vacation rental investors and ...

View More
March 19, 2020

March Real Estate market update

March Real Estate info

 

Officially a Frenzy: 11% More Contracts Than Listings For Sale
Contracts Over $1M up 60% Over Last Year

For Buyers:
Not even the COVID-19 corona virus can slow down the Greater Phoenix housing market.  For every 100 active listings in the Arizona Regional MLS there are 111 that ...

View More
Sept. 16, 2019

Opendoor, online house-flipper, buys title company OS National in bid to own more of residential real estate market

With competition increasing among internet-based real estate firms for control of the homebuying and -selling market, companies including Opendoor, Redfin and Zillow are seeking ways to design an end-to-end experience when consumers buy, sell or trade a home online.

On Thursday, Opendoor — which makes instant online offers to buy ...

View More