Historically, the 3rd week of January has been when sales volume seems to magically reverse course from its normal holiday dip. While we’ve started from an incredibly low place volume wise, you can see from the below chart that 2023 (in pink)…
The End of the American Dream? Before I wax philosophically prophetic, I’d like to share two Cromford Market Index charts that will perhaps act as a segue to my cloudy and rainy MLK day musings. August 25th: January 12th: In the opinion…
With the 2022 Phoenix Metro Real Estate market now in the rear-view mirror, (good riddance) we begin 2023 anew. A clean slate. And statistically, that’s actually where we’re at. 2023 brings in a new baseline for us, and overall, it’s a good…
Looking back one year, I should have taken Casey Stengel’s advice to “never make predictions, especially about the future.” My 2022 predictions had the caveat that mortgage rates would not exceed 4%. They hit near 7.5% stopping half the market. They have…
Mortgage Rates Continue Drop Week to week, the Phoenix Metropolitan residential real estate market continues to change. As we near the end of 2022, all sorts of market predictions are happening about what mortgage rates will do and how our local market…
I offered to write today’s Market Snapshot since one didn’t get sent out this past Monday, and I’ve never done a Christmassy one that I recall. So, I wondered, what kind of an appropriate seasonal message about real estate could I come…
If There was Ever a Time to Invest… Unless you’ve been living under a “media black-out” rock this past week, in which case you are totally forgiven and considered to be a very wise and emotionally healthy individual, you would have noticed…
Historically in most all residential real estate markets across the land, sales and related activities slow down over the holidays – as well they should. This year, unlike last year, activity is being, well, VERY peaceful. November closings have been well below…
Plus, Buyer Buy Downs and One More Seller Strategy Renters are now discovering there’s a lot more supply recently to choose from and the landlords are being more accommodating to renter prospects. The following numbers supplied by the Cromford Report seem to…
In the above “Cromford Index” a reading south of 90 indicates a buyer’s market. If the wise Yoda was asked about the current state of the Phoenix Metro real estate market, what would his response be? “A Buyer’s Market you are in….