Mortgage rates may determine how long our (national and Phoenix) current downturn will last. Mortgage rates, of course, are determined by the cost of living, aka inflation. Lenders don’t make money by loaning to us at less than the rate of inflation….
Not easily forgotten is the winter of 2020, which emerged the reality of a worldwide pandemic not seen in my lifetime. In February 2020, appreciation in our market was nearly 10%. There was a six-year period from 2014 to 2020 that had…
If you’re a Star Wars junkie, like my son and business partner, you might get a chuckle from today’s Snapshot Heading. If not, then what I’m referring to today is that our Phoenix Metro real estate market is reversing course, cooling its…
Market Adjustment Continues The first buyer benefit to be occurring amidst the current Phoenix Metro market adjustment is the number of homes rapidly coming on the market, hence, increasing inventory. Another buyer benefit and market gauge we’ll be looking at a little…
Real Estate and Mortgage Lenders Will Grapple with Change I am a blessed man, and how well I know it! I found (fell into) a career in my very early 20’s that I have enjoyed immensely. For sure, it’s had its ups…
Not Yet, But it May Not be a Bad Idea, if… It’s in our nature. We want to buy low and sell high. “Timing the Market” is certainly on the lips of lots of stock market pundits these days – and is…
Buyers Want More Supply – 3,000 New Listings in One Week! Buyers have been wanting more supply for years, and now it’s happening! From May 7th to 14th, 3000 new residential listings have been added to the Arizona Regional Multiple Listing Service…
It’s happening folks, right before our eyes. The market is changing, umm, cooling. But before we go there, we’ll report on April’s sales numbers: Active Listings: 6,688 versus 5,080 last year – up 31.7% – and up 32.4% from 5,051 last month…
In good news for buyers and renters, the supply of available homes for sale and rent are increasing – in particular, rentals! Rental listings have increased the past 4 weeks, 45% compared to the same period last year. 10,072 new rental listings…
Before about 2019, and especially COVID in 2020, we had several years where we really struggled with what to write each week. The market was just plain boring! We had a relatively balanced market with slight advantage to sellers that resulted in…