Slight Summer Price Drop They’re saying that July 2023 was the worst (hottest) on record, but it’s August in the Valley of the Sun, that is the pinnacle of misery. September, though still hot, brings cooler mornings and is a reminder that…
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…
But There is a Buyer Silver Lining First let’s look at the current home resale market. Home prices continue to rise, and it’s getting worse for buyers, however there is a silver lining for buyers which I’ll address shortly. The June 2023…
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…
For many years now, Jonathan and I have written weekly about our local real estate market, providing our clients and friends with what we feel to be valuable and timely local information about our amazing residential real estate market. Good times and…
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…
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…
The amazing Cromford Report, which is our chief supplier of residential real estate data in every possible category, and more, is also my chief inspiration for many of my snapshot articles. And I’ve said it before, Cromford’s CEO, Michael Orr, many years…
For buyer’s sake, we’ve been hoping that the supply of more homes coming on the market would increase this Spring. This is not happening. In fact, the opposite – we’re losing more inventory. The other major hope that could help buyers would…