There is a pent-up demand for housing in Phoenix Metro and much of the nation. Values are now falling (see chart) and could very well continue. Mostly, buyers have been watching mortgage rates, hoping they’ll drop to levels to bring about affordability…
Buyers to Benefit We’ve been tracking the listing market regularly for quite some time now. This is giving us our best view of current and future trends in Phoenix Metro. Our listings, as of May 3rd total 26,337 in listing compared with…
Honest Reporting of Price Drops Can be Seen as Negative Last Week’s Snapshot ended with the following two paragraphs: “These are not the types of Market Snapshots that we get joy out of. But one thing you can know for sure. We…
No one knows (or is supposed to know) what a home actually sells for until it’s closed, as in the deed recorded, the seller gets paid, keys turned over, etc. This is because the negotiated sales price is confidential between seller, buyer…
Gurus Without Clues Greetings clients and friends. Most honest economic gurus have no clue what’s going on, let alone where the markets are going, so do yourself a favor: destress and disconnect, from your favorite real estate podcasts. And while I’m thinking…
This past Thursday and Friday saw the largest two-day drop-in stock market history. The last time our markets went through such an upheaval was 5 years ago during the Pandemic. In a week of such financial turmoil including the personal loss of…
It’s always dicey to prognosticate. But more and more Jonathan and I are being asked that question from friends and clients. Naturally we want to be upbeat, yet at the same time we want to tell what we believe to be true….
Pending Foreclosures Creeping Up The good news for buyers keeps getting better! Mortgage rates have remained under 7% for several weeks now, while listings (choices) continue to increase. How much have listings increased? This week’s chart shows active listings (not under contract)…
If You Need to Sell, It’s No Time To Follow the Market! **Happy St. Patrick’s Day!** I love, love, love corned beef and cabbage. Unfortunately, it’s sodium level limits my enjoyment. Being half Irish, I might have to settle for a Guiness…
Builders and Renters Facing Challenges The Phoenix Metro buyer’s market trend continues dropping deeper. Active (Unsold) listings have increased from last month (6.7%) and from last year (44%). Under Contract listings are basically unchanged from one year ago, but are up 14%…