Odds n Ends
September’s Stats are in. These unpleasant seller numbers are music to the ears of buyers. Unfortunately for buyers, however, mortgage rates are now in the mid 7% range and before the year is out, we may be looking at rates in the…
Rates and Financing
Valley Supply Nearing Normal!
The number of active residential listings in “The Valley,” which we could define mostly as the Phoenix Metro communities, has surpassed 20,000 for the first time since 2017. This number is nearing, but still below our more long term average of about…
Sellers Balking to Sell and Give Up Their Lower Rates?
Our Phoenix-Metro residential listing inventory shot up this year from mid-April to mid-August, then its ascent began to slow (see chart below). Part of that reason is that sellers are choosing not to put their home on the market due to slumping…
WE’RE NEARING THE BUYER’S MARKET
BUT IT WON’T TAKE MUCH TO FLIP THE SWITCH BACK TO ADVANTAGE SELLERS The current talk of course, is all about the Phoenix (as well as the country’s) real estate market dropping in value – and it is. See article out today…
The Market Enters Balance, But for How Long?
Before we engage in our Phoenix Metro market discussion, let’s take a look at June’s stats to get you somewhat up-to-date, though with the way the market’s so quickly moving, we might be out of date before the fireworks fly this evening….
Pandemic Appreciation
Mortgage rates may determine how long our (national and Phoenix) current downturn will last. Mortgage rates, of course, are determined by the cost of living, aka inflation. Lenders don’t make money by loaning to us at less than the rate of inflation….
Ask and it Shall be Given to You
Buyers Want More Supply – 3,000 New Listings in One Week! Buyers have been wanting more supply for years, and now it’s happening! From May 7th to 14th, 3000 new residential listings have been added to the Arizona Regional Multiple Listing Service…
ODDS N ENDS AND REAL ESTATE TRENDS
Happy Spring Monday! The NCAA Championship Game is this evening. I don’t have a dog in this fight, but I do love great basketball, especially if there’s last quarter dramatics😊 I’m also loving our chamber of commerce 85-degree temps. In April of…
Hope for Home Buyers in 2022?
A Mixed Start to a New Year Happy New Year Everyone! Here we go!! We start our first issue of 2022, with the main question: Is there hope for home buyers in 2022 or is it more of the same sad slumping…
Will (Price) History Repeat Itself?
Been there. Done that. Bought the Tee shirt! In January 2005, following a 4-year runup from January 2001, the Phoenix metro residential sales market had risen from a monthly median sales price of $127,000 to $189,000 – a 49% gain, or 12%…