The Market Changes Yet Again
“The report of my death was an exaggeration” — Mark Twain 2022 ended in a whimper. After a promising spring buying season, the market sagged under the weight of affordability issues – largely courtesy of rapidly rising interest rates. The seemingly unstoppable sellers’ market that began the year, in fact stopped. By November and December…
Signs of a cooling market
The Phoenix housing market is cooling, but it is far from cold. Here are some interesting numbers from the Cromford Report. From April 1st to October 1st, the number of homes for sale in MLS rose 92% going from 3,591 to 6,883 active listings (supply). In the same time frame, listings under contract dropped 9%…
How’s the Market?
About that real estate market of ours – it certainly was impacted by the pandemic. Perhaps the biggest surprise to most people is what the actual impact looked like rather than what they assumed would happen. Let’s examine the impact in the key areas that compose a real estate market. Prices The primary concern for…
See our newest market update through YouTube as Wendy Shaw discusses the effects COVID-19 has had on the marketplace.
The Housing Market Isn’t Stopping!
The real estate market is still alive and functioning –despite social distancing and stay at home orders. Like food, shelter is not optional. Understandably there have been changes. The number of transactions has dropped, but prices are not dropping as supply continues to be much lower than current demand. 2020 began with such a disparity between supply and…
Officially a Frenzy: 11% More Contracts Than Listings For Sale Contracts Over $1M Up 60% Over Last Year
The COVID -19 virus and the housing market are squaring off. It is early in the fight, so we are loathe to predict too much at this point. In our 42 years of practicing Phoenix real estate in all its iterations – a pandemic virus is one we haven’t lived through. But “disasters” whether war…
Supply and Demand Seesaw
The seesaw of supply and demand is our best barometer of the health of the housing market – so naturally we closely watch it. We have been in a seller’s market for such an extensive period that like most veteran agents, we are expecting a correction. A rebalance of the market we hope will come…
Welcome to 2018
We hope you all had a wonderful holiday season! Now that we are off to a fresh new year it makes sense to note where the market currently stands. Supply Undoubtedly our serial readers are already well aware that the 500K and under range has been in a “sellers” market for all of 2017. What…
Historic Mortgage Rates
Seeing historic highs and lows put today’s rates in perspective.
How’s The Market?
Real estate affects everyone here in the valley – even those who don’t buy or sell. So being a Realtor, I get to see firsthand the level of interest the subject attracts. The second most common question I get asked is “How’s the market?†(The most common one being “Are you that guy on TV?â€)…