Usually the 3rd quarter (July-September) of the sales year is weak. According to The Cromford Report, we have “entered a new phase of the market, where prices are rising far faster than the past 5 years. The last 3 months, per Cromford,…
For months and years, our weekly Monday Market Snapshot has reported the unending buyer trauma of a torrid seller’s market. Inventory shrinking to near record lows, current double-digit appreciation, sales increasing despite the low inventory, and multiple offers on the lower price…
Arizona is setting heat records, and we’re not just speaking of August and September 2020 outdoor temperatures, which have been blazing! We’re also speaking of the rising appreciation rates now experienced in the Phoenix Metro residential real estate market. The Monthly average…
No matter which direction we look, the Phoenix Metro real estate market continues to be leading the country in whatever category you want to gauge. Resale Appreciation? Okay, the resale housing market is ablaze. The conservative 3 month S&P Case Shiller price…
Until you’re on the ground, chasing down a home to buy, it may be difficult to understand how competitive it really is for home buyers right now. Any fantasies about snagging properties under asking price need to be thrown out the window….
REAL (ESTATE) NEWS What’s happens in Silicon Valley, (San Francisco Bay Area) is apparently not staying in the Bay Area for many workers now being impacted by the Covid 19 virus. Since the pandemic became local, tens of thousands of tech employees…
The Phoenix-Metro residential real estate market continues rising at a blistering rate compared with one year ago, totally ignoring the greatest international health pandemic of our lifetime. Of all major sales data points, the only fall we’re seeing continues to be the…
Last week we looked at the resale and rental markets and the price ascension of both since 2011 and 2014 which is at or nearly at double digit annual increases. This week, we’re going to consider the new home market as the…
The cost of housing in the Phoenix Metropolitan communities continue to ascend, both in purchase and rental prices. Today we’re comparing the local rental and resale markets on a Monthly Average Sales price and lease price per square foot (PSF) basis. Next…
In 2005, mortgage lenders churned out millions of mortgages with many of them throwing out historical lending best practices. Why? Because they could, and there was very little oversight. In this perfect storm of hideous and illegal financial behavior, America, and much…