Every issue since 2013. Mike writes most of them, Jonathan writes the rest, and nothing has been taken down because it aged badly.
For many years now, Jonathan and I have written weekly about our local real estate market, providing our clients and friends with what we feel to be valuable and timely local information about our amazing residential real estate market. Good times and…
Last week we talked about mortgage rates soaring into the 7% range and whether or not this could have much of an impact on the market. Then, the “national debt ceiling” issue got dealt with and rates dropped back below 7%. Still…
This week’s chart, like most of the Cromford Report’s charts, is very interesting. It shows our market’s pricing per square foot (PSF) going back 9 years, including 2023. If you begin at 2015 and continue through 2019, you would notice that, for…
Chuck, a friend and client of mine in his early 60’s had never owned a home in his life. He had rented a room from a mutual friend of ours in Tempe for almost 20 years. Last year, as mortgage rates began…
Short Answer: Don’t Hold Your Breath Much ado has been made about the lack of buyer demand. This is not nothing. Buyer demand is certainly below the normal average! There are two reasons for this, and you’ve heard at least one of…
Much ado has been made about the lack of buyer demand. This is not nothing. Buyer demand is certainly below the normal average! There are two reasons for this, and you’ve heard at least one of them: 1. High mortgage interest rates….
5 Months Improving Conditions for Sellers The unique thing about the Cromford Market Index Chart (below) is that it is a “predictive” tool that we use to give the earliest indication of a change in the market direction. On the first of…
With two exceptions, our local market is in “full-on recovery mode – a Seller’s market. In data we’ve obtained from the Cromford Report, virtually every residential sales category comparing to last month has been in favor of Sellers. For example: Compared to…
The amazing Cromford Report, which is our chief supplier of residential real estate data in every possible category, and more, is also my chief inspiration for many of my snapshot articles. And I’ve said it before, Cromford’s CEO, Michael Orr, many years…
For buyer’s sake, we’ve been hoping that the supply of more homes coming on the market would increase this Spring. This is not happening. In fact, the opposite – we’re losing more inventory. The other major hope that could help buyers would…