Key Market Index Undecided About Market Direction Everyone has opinions, especially about the direction of the current national and local residential real estate market. At the beginning of this year, we made some prognostications about that direction as well, albeit very cautiously…
Rental Prices Remain Flat Four Years Running Let’s call it like we see it (as we always try to do). They shouldn’t be, but they are – sales are up, the highest since 2023. For a market that’s gaining inventory daily, with…
But so Do Oil and Mortgage Rates As we’ve stated before, it’s a good thing for buyers when the supply of listings increases. Likewise, when supply decreases, it’s good for homeowners/sellers. In normal markets, when supply increases and demand is low, a…
It’s Sunday afternoon. I rack my brain on what to write about our current market tumult. And I’m conflicted. I’ve bought and sold homes for myself and clients since the 1970’s. I endured the oil crisis in 1979 which elevated inflation and…
Could the Iranian War Do the Same? Last week I wrote about how the Iranian war will likely raise mortgage rates from a recent drop of just under 6% due to the anticipation that higher oil prices and less global supply will…
I had settled in my own mind this weekend about our current Phoenix Metro residential real estate market and the effect war with Iran will affect it. If a middle east war gives way to higher oil prices (and it’s likely), that…
Home Listings Increase; Advantage Buyers Coming out of President’s weekend, we’re looking at mortgage rates we haven’t seen in almost 3 years. The 30-year fixed rate has dropped to 6.04%. The 30-year FHA rate and the 15-year conventional have settled in at…
How can that be? Well this is true for those who aren’t paying cash. Home prices are up, but not by much, not even keeping in line with inflation. And that is when looking at list price. When looking at closed pricing,…
*and Foreclosures Increasing* We’ve shared in the past about the trillions of dollars that are in process of being passed down from the Baby Boomer and Silent generations to the millennials, Gen Xers, etc., known as *The Great Wealth Transfer*. A recent…
*Cromford Market Index Values Showing Mostly All Green* The annual sales rate for the Phoenix Metro residential market (as we all know) has been in the basement for the past three years. The sales market had started its decline in July of…