or, “Bye-bye, Miss American Pie?” Many sideline home buyers here in the Phoenix Metro communities and in many locales across the country are waiting for either mortgage rates to drop to their perceived ideal rate, or for home prices to drop, or…
Phoenix Metro 10 Year Rental Price History First off, have a wonderful 4th of July celebration for this, the greatest country in the world – still! Last week on The Snapshot we asked the question, what would you call lower and middle…
Last Monday we wrote about a “Reverse Crash” that could be (is) heading our way. A normal crash, a plummeting of values, can be seen on the chart below from June 2007 to June 2009, when prices crested at $258,000 then dropped…
If So, You Heard it Hear First You gotta admit, today’s Snapshot title is pretty provocative, eh? For those businesspeople who utilize CRM’s such as Constant Contact, each send-out report is analyzed for the percentage of “opens” it gets. Most get less…
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…
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….
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…
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…