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
Real Estate Market News
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
Watch this video!!! I don't know if you knew this, but it takes $4,000,000,000,000 to buy a cheap, dilapidated home in Phoenix. Do you have that in your bank account right now? I mean, everyone else does, why not you? JUST KIDDING. Seriously though, it does take some money to buy a home. (Key word here: … [Read more...] about What Does It Take To Buy A House In Phoenix?
Come on already! Why are you hording your own house? Put it on the market already! Don't get cast in that hypothetical TV show, "House Horders"! (Is this a show already? I'm not sure. I would probably watch it.) Weather-wise, it's becoming an early spring, and it's the perfect time to begin selling your home! Yet as you can … [Read more...] about We Need Listings! #NotABubble
One of the biggest drivers in housing demand is population growth. Simple math here. If you have more people, you need more houses. There are essentially 2 ways people come to Phoenix - they move here or they are born here. And folks, the number of people born here is on the decline. My friends at Cromford Report, pointed out … [Read more...] about Population Pause…We Need More Babies!