Why Buyers Should Stay in the Game in 2023
Sellers: Prepare for Longer Days on Market in Q4 For Buyers:
When first-time home buyers talk to their parents or grandparents about today’s mortgage rates, they may get a response similar …
For Buyers: Not a lot of changes are happening in the housing market right now. It’s as if both buyers and sellers are in a holding pattern awaiting a sign before making a move. Conventional mortgage rates have held steady …
Mortgage Interest Deduction Saves Money for New Homeowners
Home Values Appreciated 5-7% Since December
For Buyers:While many professionals tout appreciation as the main benefit of homeownership, higher mortgage rates bring another tool into the equation that hasn’t been promoted …
After 200% Increase, Supply Still Nearly 40% Below Normal
Sale Prices Up 3.5% Since December For Buyers:
Rates defied industry predictions once again and rose over a point from 5.99% to 7.1% between February 2nd and March 2nd. For the …
Accepted Contracts Up 86% in 5 Weeks
Phoenix Back to a Seller’s Market! But It’s Not 2020–2022 Again. For Buyers:
The Spring season is upon Greater Phoenix. February hosts the Waste Management Open and …
Phoenix Buyer Market – Aaaand It’s Gone
Median Price Down $65,000 Since May For Buyers:
Last year, traditional buyers took a back seat to an influx of cash investors and speculators who outbid them. Then, mortgage rates increased …
One–by–One, Most Cities in Greater Phoenix Succumb to a Buyer’s Market
44% of October Sales Involve Seller Paid Concessions to Buyer For Buyers:
Greater Phoenix as a whole has been in a balanced market …
32% of New Home Sales Had Concessions to Buyers
Mortgage Rate Hikes Cause Drop in Contracts Again For Buyers:
The percentage of closings with seller-paid closing costs continues to grow as August and September to date range be- tween 12-13% …
MLS Supply Up 45% in 6 Weeks
Rising Interest Rates Dropping Demand Quickly For Buyers:
It’s the moment you’ve been waiting for, less competition and more supply in Greater Phoenix! Active supply is up 40% from this time last year, …
57% of Sales are Over Asking Price
Median Sale Price Up 27% to $457,000
For Buyers:
Supply is still the top concern for buyers these days and we continue to look to new construction to add new homes and …
Short Term Rentals up 23% NE Valley
MLS Rental Supply up 60% in 5 Months
For Buyers:
Don’t be fooled by the small increase in supply and decrease in demand compared to last year. The Greater Phoenix housing market is …
What does a “normal” market even look like anymore?
Sellers: Look for these Measures to Shift in 2022
For Buyers:
Does anyone know what a normal, or balanced, housing market looks like anymore? In Greater Phoenix, the supply and demand …
