Nationally, and in the Phoenix Metro communities many first time home buyers are throwing in their buying towel, being unable to buy a home where they want or need it to be, or just flat frustrated at unaffordability, per the Business Insider….
Yes, But it Depends on Your Definition of Rising “Lies, damned lies, and statistics” is quoted in Mark Twain’s biography, which he attributes the phrase to Benjamin Disraeli. Whoever, it always draws a chuckle, because most folks know it rings of truth….
Last Friday, mortgage rates dropped to 6.19% for the 30-year fixed rate. The 15-year dropped to 5.76%. These are rates not seen for over a year. Definitely very good news for buyers. And mortgage applications reacted strongly – just one problem –…
And What’s After That? It is trust to say demand IS improving. It is also true to say it is improving very slowly, and it is still what we would call low overall. Of course ours is a city made of many…
Our market continues to befuddle. It’s a market that’s creeping along at the low end of sales activity. Listings are now back to increasing – 6% over last month. To be fair, this is normal for September and October, and the real…
Before we begin this week’s story, let’s take a quick look at September’s listing and sales trends to see if there anything noteworthy to report. Resales Active Listings: 24,450 vs 19,643 last year – up 25% – and up 5.2% vs 23,238…
The “E” Word That Won’t Autumn has arrived. Another Phoenix summer we’ve survived.😉 Mortgage rates, which had been up and down since a high point of 7.76%, had been on the decline for almost 2 years (Nov 2023). Last week, they hit…
The Phoenix Metro residential real estate market is holding. Quiet. Calm. Sort of in a big yawn mode. But there’s an underlying tension and uneasiness that real estate professionals are feeling at this point, at least I am. The number of real…
A Perfect Storm for Buyers? Once again, thank you for my title and song Mr. Dylan. Sorry for my amendments. As I read the lyrics again on this (even now) prophetic song, I’m obviously relating it to our local real estate market,…
Yes – At Least for Now, But for How Long? Happy Labor Day! I think it should be Happy Un-Labor Day. The Old Testament Sabbath, which was Friday sundown to Saturday sundown (Shabbat), was a day of rest, as God rested from…