Arizona Real Estate Market Update May 24th
Thanks for reading my blog on the updated market report for the Phoenix Metro area, a lot has changed in the last few months with higher interest rates, 25% + in inventory, affordability, and more. Prices will continue to rise in this environment but you will see in the coming months that you have more […]
Arizona Real Estate Market Update for February 2022
Median Days on the market to contract = eight days Annual appreciation 27% Year over year. Sales over asking price 42% 4760 Active listings (We Need 16,000-18,000 to be in a stable market) DOM 8 days until contract Cromford Market index is at 460. When this number reaches below 100, only then will the price […]
📈 Real Stats on why our Real Estate market in Arizona is so strong. Expect prices to continue to rise, not as many multiple offers, and fewer contingencies.
Supply & Demand: Supply is all of the properties; demand is all of the humans. The relationship between supply and demand dictates pricing in all sectors. There are influences that solely impact supply or demand, but those influences do not directly change sales prices. Mortgage interest rates influence demand and buyer behavior, but it does […]
What does it mean to be in a seller’s market?
What Does Being in a Sellers’ Market Mean? Whether or not you’ve been following the real estate industry lately, there’s a good chance you’ve heard we’re in a serious sellers’ market. But what does that really mean? And why are conditions today so good for people who want to list their house? It starts with […]
Arizona market update. Relief coming for home buyers.
After experiencing 25% appreciation since a year ago in some parts of the valley in post covid, Arizona may be taking a breather, but it’s complex. Here are the top charts from our latest 2021 real estate market report that explains why Arizona is due for a slow down, why prices will continue upward for […]
Arizona Real Estate Market Update for May 2021
I hope this data helps you understand where the market is heading and what you can expect with future home prices. This information is based on facts and data from the Cromford Report, the MLS, and quality sources that you can trust. If you own a home, you want to know where your investment is […]
April 2021: Arizona housing Market Update and how to predict where home values are going.
Phoenix is one of the hottest real estate markets in the U.S. The Greater Phoenix housing market is booming. The buyer demand refuses to die down despite increasing mortgage rates. The median sales price has reached $360,000, which is an increase of $55,000 or +18.1% from the April of last year. There was a good supply of […]
Market report for August 2020 for Phoenix Metro
August Phoenix Metro Market Report: 2020-AUGUST-STATRemarkable. This is the word most used to describe the current state of our housing market. Even after our unemployment numbers rose above 12% in April and the U.S. economy contracted nearly 33% in the second quarter, in June buyers returned to our market. We are living in a time […]