Blog Market Update
Market Update- October 2021
The end of forbearance is not the end of a seller market. Supply is up 93% since April while prices continue to rise.
For Buyers:
The housing supply shortage is still in full swing, and there is online speculation that …
Market Update- September 2021
Contract Activity Spiked 20% In This Price Range Luxury Sellers Over $1M Enjoying a Hot Summer
For Buyers:
Buyer demand has rallied sharply over the past 4 weeks, which is unusual for this time of year. The rally is exclusively …
Market Update- July 2021
What’s Ahead for Sellers as Demand Weakens Median Sales Price Up 29%, Fewer Contracts
For Buyers:
Buyers with budgets over $300,000 may be noticing that they have more listings to choose from compared to a few months ago. …
Market Update- June 2021
Should Buyers Wait to Buy?
Median Sales Price $390K, up 32% from 2020
For Buyers:
There’s a lot of conflicting advice for buyers online these days, and there’s no shortage of headlines advising them to wait. Many authors cite the …
Market Update- May 2021
62.8% of Homes Sold Considered Affordable Last Quarter
Median Sales Price Up 27%, Incomes Up 26%
For Buyers:
Despite all the incredible news about rising real estate prices, a family making the median income of $79,000
in Greater Phoenix could …
Market Update- April 2021
One Year After Start of Pandemic – Luxury has Exploded
Homes Selling for 101% of List Price on Average
For Buyers:
With 54% of all sales closed over asking price so far in April, the average sale price per square …
Market Update- March 2021
44% of Sales Closed Over Asking Price
New Listing Counts Lowest in Over 20 Years
For Buyers:
44% of sales through the Arizona Regional MLS have closed over asking price in the last 30 days. The median amount over asking …
Market Update- December 2020
Supply Down 48%, Contracts Up 35%
CARES Act and Eviction Moratorium Due to Expire December 31st
For Buyers:
Existing protections in place for homeowners during times of financial hardship have come to the forefront in 2020. While both renters and …
Market Update- November 2020
Demand for Homes Up 36%
Rents up 17% Since April
For Buyers:
The Rent vs. Buy scenario has become heavily in favor of buying over the last 5 months. Eviction moratoriums due to the pandemic have greatly reduced turnover rates …