Blog Market Update
Market Update- November 2022
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 …
Market Update- October 2022
More Buyers Got Help With Closing Costs in September
What To Expect for Housing in the 4th Quarter For Buyers:
The price reductions keep coming. Last week when mortgage rates hit 7.0%, the Greater Phoenix housing market re- sponded with …
Market Update- September 2022
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% …
Market Update- August 2022
Seller–Paid Closing Cost Assistance Coming Back
This Price Point is Declining the Fastest in Greater Phoenix For Buyers:
Good news for buyers, the number of closings with seller-paid closing costs rose 27% in July compared to June equating …
Market Update- July 2022
Seller Market is Officially Over! Here’s What to Expect.
How Some Sellers Are Winning Against Interest Rates For Buyers:
Welcome to a balanced market*, how quickly the tables have turned! While seller markets are ideal for the not-so- perfect …
Market Update- June 2022
MLS Supply Up 113% Over Last Year
Median Days Prior to Contract Rising For Buyers:
Market conditions continue to get better for buyers undeterred by rising mortgage rates. Over the last 10 weeks, there has been a surge of new …
Market Update- May 2022
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, …
Market Update- April 2022
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 …
Market Update March 2022
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 …
Market Update February 2022
Housing Market is Just as Tough for Buyers over $1M
Median Sale Price up 2.4% Over Last Month
For Buyers:
Affordability has been dominating the headlines as of late, however few have been documenting the plight of buyers in the …
Market Update January 2022
Cost to Rent vs. Buying in 2022
Owner Occupant Buyers Retreated in 2021
For Buyers:
As the cost of purchasing a home increases in Greater Phoenix, the question of whether to rent or buy becomes harder
to answer for some …
Market Update- December 2021
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 …