This week in Phoenix real estate……Wow, just wow…a 53% gain in active listings compared to last year. 41% more than this time last month. But the increase in listings is just part of the story. All indicators that look at supply and demand are dropping fast: * 27 days of inventory compared to 19 a month ago, the highest we … [Read more...] about This Week in Phoenix Real Estate…May 16, 2022
This week in Phoenix real estate…nothing like raising the interest rate by 2% to grab the attention of the Phoenix real estate market. The Mortgage Bankers Association index of 5.36 is 2.03 points higher than it was on January 1. For the median home price (currently $470K) that equates to an increased monthly payment of about … [Read more...] about This Week in Phoenix Real Estate….May 9 2022
10261 S Hopi Lane, Goodyear, AZ Get Directions Click Here Description Photos Maps & Local Schools Virtual Tour Walk Score $ Click for current price 3 BEDROOMS 2 BATHROOMS (2 … [Read more...] about 10261 S Hopi Lane, Goodyear AZ 85338
This week in Phoenix real estate… Signs are continuing to point to an excruciatingly slow return to “normal” in Phoenix real estate. We saw a 16% increase in active listings compared to this time last year (WOW!!) which is a mere 61% less than we had in April 2020. Well, that was that whole COVID year, sooo. OK, a mere 70% less … [Read more...] about This Week in Phoenix Real Estate…April 18, 2022
The rental market is the real estate version of the canary in the coal mine. It's going to show the first signs of change. Think about it. As prices go up, wealthy people will buy few houses; well-to-do people will by smaller houses; starter home people will rent, and renters will get roommates. So the recent changes in the … [Read more...] about This Week In Phoenix Real Estate — Has the Rental Market Hit a Plateau?
This week in Phoenix real estate...it's not exactly news that that there aren't enough houses to go around. What might be surprising is how quickly the lower price ranges are changing. Homes on the market, priced under $400K, are down 47.6% compared to last year. However, homes priced between $400K-$500K are up 109% overall, … [Read more...] about This Week in Phoenix Real Estate – February 14, 2021
This week in Phoenix real estate...How can people afford these prices? That's a good question, with home prices here in Phoenix continuing their meteoric rise and interest rates heading up as well. The Housing Opportunity Index, HOI, published by the National Association of Homebuilders, pegged Phoenix at 51.2 for the 3rd … [Read more...] about This Week in Phoenix Real Estate – February 7, 2022
This week in Phoenix real estate...the rumors are true. Mortgage rates are going up. We are seeing roughly a 0.5% bump from last month, with expectations for more increases through the year. I personally have heard a few peeps freak out over this rate increase. Climb off the roof, my friends. Let's keep this in perspective. … [Read more...] about This Week in Phoenix Real Estate – January 31, 2022