The Headlines vs 𝗥𝗲𝗮𝗹𝗶𝘁𝘆
The media continues to push the narrative that interest rates are killing the spring home buying season and that danger lurks everywhere. News of failed banks SVB and Credit Suisse creates fear that the banking crisis of 2007 is repeating. YouTube “experts” claim that foreclosures are on the rise. Yet the facts do not support…
Market Update March 2023
𝗧𝗵𝗲 𝗛𝗲𝗮𝗱𝗹𝗶𝗻𝗲𝘀 𝘃𝘀. 𝗥𝗲𝗮𝗹𝗶𝘁𝘆 The media continues to push the narrative that interest rates are killing the spring home buying season. Yet the facts do not support this theory in the greater Phoenix area. While interest rates may be keeping some buyers out of the market – the impact seems to be the greatest on sellers. When sellers cannot comparably…
Market Update February 2023
Seller’s Market – but for how long? The current market has shifted to the seller’s favor once again. But this is not your mama’s market (i.e. the 2022 unbeatable spring market). Last spring we were in an overheated seller’s market – fueled by demand, low supply and low interest rates – it looked unstoppable. Yet…
Market Snapshot January 2023
Why a Balanced Market feels so Unbalanced Most buyers and sellers would be surprised to hear that the greater Phoenix real estate market is “a balanced market” at the moment. But it’s true. Why doesn’t it feel that way? We think it feels unbalanced primarily for 3 reasons: 1. Appreciation has been strong since 2015…
Market Snapshot December 2022
Silent Night The real estate market is eerily quiet as 2022 comes to a close. After years of record setting numbers, which culminated in the 1st quarter of 2022, the shift came swiftly and sharply in the 2nd quarter. Demand dropped precipitously after interest rates spiked – reaching its lowest level since April of 2008….
Real Estate Reality
By now most are aware that the greater Phoenix market began the year as a seller’s market, then balanced market, and now has slipped to a buyer’s market. As we often repeat, real estate markets are local (meaning national statistics are not reflective of what is happening locally) and truth be told, real estate markets…
Market Facts vs Fiction
Much has been written about the greater Phoenix housing market and even more about the national housing market. The first thing to remember is housing is local. Following the national trends while interesting (misery loves company), is anecdotal. Shocking headlines and clickbait may increase readership, but is of little help to those trying to make…
October Market Update
Market Blues After such a wonderful start to the valley’s real estate market in the first quarter of 2022, by contrast the 4th quarter has started in the doldrums. It is easy to place the blame – interest rates hitting 7% – therefore reducing both buying power and demand. For those of us who have…
Balancing Act
A Balancing Act By now most homeowners have heard the news “the market has shifted”. While that is true, as usual the story is more complex. In the first quarter of 2022, Sellers held every card. Now they are handing them back one by one. As financial markets tend to run on two emotions (either…
The Current Market
Gary Keller …The current market is ‘the most confusing I’ve ever seen… There’s a lot to worry about in today’s market — coronavirus infections are near 2021 peaks, health officials are ringing the alarm about monkeypox and polio, inflation and mortgage rates are steadily climbing, home sales have slowed and the industry’s biggest real estate…