But Will 7% Mortgage Rates Play the Spoiler? Well, that didn’t last long. For 12 years, from November of 2010 until this past December, the Phoenix Metro residential sales market had been in a sustained seller’s (or briefly balanced) resale market as…
Everyone would love to know when the “bottom of the market” is, be it gold, stocks, or real estate. I’m continuing to see a number of national real estate pundits predict sharply falling home prices in some major metro areas in the…
Recent Rising Rates to Hinder? The new year, along with it’s former lower mortgage rates has brought about a wave of local home buying activity that’s been nothing short of amazing. Referring to the chart below, which is worth a thousand words,…
Since I had no dog in the Super Bowl fight yesterday, I was looking for an exciting game with a great finish. Very few Super Bowls have ever had two teams so equal, be it wins and losses, talented rosters, and even…
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…