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 ...
2020 Broke the Record for Luxury Sales
Supply Down 51%, Slim Pickings in 2021
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 ...
Supply Down 48%, Contracts Up 35%
CARES Act and Eviction Moratorium Due to Expire December 31st
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 ...
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 ...
Pandemic Effect: Closed MLS Sales Down 31%
Look Who’s Back: Weekly Contracts Up 40% in 4 Weeks
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 ...
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 MorePandemic 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 ...
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 ...
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 ...
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