Mortgage Rates Rise – Under Contract Listings Drop Reviewing May’s sales numbers was not surprising, even though the monthly median sales price increased from $450,000 to $455,000 – a 1.1% increase. Considering that demand from buyers has dropped, one could expect to…
One Huge Upside of a Real Estate Career Last week we looked at the average demographics of a Realtor* and their compensation. We saw that statistically; an American real estate agent is a member of the National Association of Realtors (NAR) and…
Jonathan and I are periodically queried by someone considering a real estate career and whether or not it’s a good idea? This is often asked by someone who has retired from a previous career outside of real estate and looking for something…
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…
Active Listings are near their highest point for this time of year (April) since 2014. They’ve been increasing monthly since the beginning of the year and are expected to continue increasing as the outcome of inflation has already seen an unprecedented increase…
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…
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…