Last week we discussed the record price appreciation year of 2005 which peaked at 47%. We noted the very similar paths of appreciation comparing our present year’s 4 months of appreciation (Jan-April) versus 2005. We also saw, based on the continuing lack…
A picture, or a graph, is worth a thousand words, so I’ve decided to include an interesting graph below. What it shows is annual Phoenix Metro appreciation based on the monthly average price per square foot (PSF), a fairly accurate way to…
Interesting information that the Cromford Report has provided once again for us data geeks who like to spot trends in the local housing market. Unfortunately, not everything we discover is good news for all segments of our market, notably first time or…
Cromford and Case-Schiller Reports If you celebrate Easter, we hope it was a blessed weekend for you. And if you didn’t celebrate Easter, we hope it was a blessed weekend for you. After all, the word blessed simply means “happy.” As a…
Even in a normal market, buying a home while having to sell yours first can be tricky. In this market, it’s more than a strain. Selling your property is the easy part. If your house is in good shape, priced well, and…
There was an interesting article by Catherine Reagor in Sunday’s Arizona Republic about a proposed $15,000 federal tax credit that could help renters become owners. Further, the article stated that 31% of current Phoenix renters would then be able to qualify to…
Common sense tells us that our blistering Phoenix Metro housing market must begin to cool. And of course, it will. All markets do. The questions of when, how much, why it will, and what it will look like are the questions we’d…
The current housing crisis continues unabated and it’s very tempting to think in terms of a “bubble” or “bust.” The Cromford Report recently discussed this issue and calmly points out the facts. According to them, there are four options we have for…
The current Phoenix Metro real estate appreciation is about 22% (based on the annualized monthly price per square foot). This is similar to 2004 which was one of the highest appreciation years in Arizona’s history (over 45%). That may change. The chart…
“It can be hard to explain to people just how bad the supply of re-sale homes has become in Greater Phoenix. The reality is quite difficult to grasp unless you are trying to buy one. Many people mistakenly think demand must be…