The Cromford Report put out its mid-month numbers two weeks ago and one line in there grabbed my interest. Of all the homes currently under contract in Greater Phoenix, 3.9% are in the early stages of foreclosure. In June that number was…
As a heads up, an economist I’m not. Honestly, I’m in way over my head on the big numbers game. But considering that no one else seems to be able to cure “America’s Silent Dollar Killer,” known as inflation, I too can…
Since the summer of 2022, the price per square foot of a typical Phoenix home has barely moved. A home between 2,000 and 2,500 square feet is down about 1% in plain dollars. On paper, that is a steady market. On paper….
Residential Real Estate May Never Be the Same Part 2 This last week, Safeway had a meat sale that included petite sirloin steaks and many of their roasts – for $6.99 per pound. One year ago, that same sale was half that…
Bypassing the Traditional Script of Downsizing Congratulations to Spain’s soccer team for their hard-fought win in the World Cup yesterday. Though I prefer American football, I have to admit to being gripped by the second half of the game, and I was…
Could Have Been Better, But It’s Better than Not The ROAD Act became law this last Saturday after President Trump refused to sign it. After years of formulating the Act, Congress, with both Republicans and Democrats working on it, plus the National…
Could it be a Win-Win? If you’re seeing the numbers below through the eyes of a seller, you’d say that we’re clearly doing better than one year ago. If through the eyes of a buyer, you’d have to honestly say that buying…
The numbers are irrefutable. High mortgage rates have adversely affected the Phoenix Metro residential sales market. How has it affected the market? Pricing and the number of sales. The following bullets, recently supplied to us by the Cromford Report, tell the tale….
Another Increase for Mid July? Honestly, each week, we think we’re going to be reporting a drop in home values. We’re still waiting. Mostly, our market has been pretty subdued both in prices and sales. And it’s not on fire, mind you,…
Paradise Valley, Scottsdale, Fountain Hills See Increase This past Friday saw the greatest Initial Public Offering (IPO) of any company (SpaceX) in the history of the stock market. In one day one man became a trillionaire (that’s trillionaire – with a Tr)…