Real Estate News

May 16, 2022

Phoenix Real Estate market update for May 2022

MLS Supply Up 45% in 6 Weeks
Rising Interest Rates Dropping Demand Quickly
 
For Buyers:
It’s the moment you’ve been waiting for, less competition and more supply in Greater Phoenix! Active supply is up 40% from this time last year, but all that gain has been achieved over the ...
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Posted in Real Estate News
March 16, 2022

Phoenix Real Estate Market update for March 2022

Short Term Rentals up 23% NE Valley
MLS Rental Supply up 60% in 5 Months
For Buyers:
Don’t be fooled by the small increase in supply and decrease in demand compared to last year. The Greater Phoenix housing market is far from weak and will continue to see prices appreciate ...
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Posted in Real Estate News
Feb. 15, 2022

Phoenix Real Estate Market update for February 2022

Housing Market is Just as Tough for Buyers over $1M
Median Sale Price up 2.4% Over Last Month

 

 

For Buyers:
Affordability has been dominating the headlines as of late, however few have been documenting the plight of buyers in the luxury market over $1M. Typically, the higher ...

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Posted in Real Estate News
Jan. 12, 2022

Phoenix Real Estate Market update for January 2022

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Cost to Rent vs. Buy in 2022
Owner Occupant Buyers Retreated in 2021
For Buyers:
As the cost of purchasing a home increases in Greater Phoenix, the question of whether to rent or buy becomes harder to answer for some buyers.  The overall median cost of ...
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Posted in Real Estate News
Dec. 14, 2021

What Does a “Normal” Market Even Look Like Anymore?

What Does a “Normal” Market Even Look Like Anymore? 
Sellers: Look for these Measures to Shift in 2022

 

 

For Buyers:
Does anyone know what a normal, or balanced, housing market looks like anymore?  In Greater Phoenix, the supply and demand indices have only come together twice ...

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Posted in Real Estate News
Nov. 15, 2021

Phoenix Real Estate Market update for November 2021

2022 Housing Predictions: Who to Believe?
Median Price Currently Rising 1% per Month on Average

 

For Buyers:
‘Tis the season for 2022 projections in the housing market and, as expected, there are conflicting opinions among national housing analysts. Zillow and Goldman Sachs predict home values will rise nationally 14-16 ...
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Posted in Real Estate News
Sept. 13, 2021

Phoenix Real Estate update for September 2021

Contract Activity Spiked 20% In This Price Range
Luxury Sellers Over $1M Enjoying a Hot Summer

 

Phoenix Real estate market September 2021

For Buyers:
Buyer demand has rallied sharply over the past 4 weeks, which is unusual for this time of year.  The rally is exclusively between $400K-$800K, spiking nearly 20% in contract ...

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Posted in Real Estate News
Aug. 16, 2021

Phoenix Real Estate Update for August 2021

 

Supply Up 42% Since May, Price Reductions Up 131%
Affordability Dips Below Normal to 56%

 

For Buyers:
There is a little relief ahead for buyers in Greater Phoenix.  Supply continues to rise in price points between $300K-$1.5M and buyer demand has settled into a normal ...

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Posted in Real Estate News
July 16, 2021

Phoenix Real Estate Update for July 2021

What’s Ahead for Sellers as Demand Weakens
Median Sales Price Up 29%, Fewer Contracts

 

For Buyers:

Buyers with budgets over $300,000 may be noticing that they have more listings to choose from compared to a few months ago. This is especially true in the price points between $400 ...

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Posted in Real Estate News
June 18, 2021

Homeowners got $2 trillion richer during the first three months of the year

Homeowners got $2 trillion richer during the first three months of the year

 

Homeowners are getting richer and richer as prices keep soaring – and the numbers are staggering.

Those with mortgages — about 62% of all properties — saw their equity jump by 20% in the first quarter ...

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Posted in Real Estate News