Blog Market Update
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 …
Market Update – November 2021
2022 Housing Predictions: Who to Believe?
Median Price Currently Rising 1% per Month on Average
For Buyers:
‘Tis the season for 2022 projections in the housing market and, as expected, there are conflicting opinions among national housing analysts. Zillow and …
Offers No More
The big Zillow news, the “Zillow Offers” program is shuttering after only a few years due to disappointing profits and shareholder pressure. Zillow acted as buyer, appraiser, bank, flipper, then broker in their Zillow offers model, leaving the company exposed …
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. …