This year, homeowners have a golden opportunity to make a successful sale. From April 14th to 20th, the housing market aligns perfectly for sellers aiming to garner substantial interest, close deals swiftly, and fatten their wallets. Analysts have observed that buyer demand surges, competition dwindles, and price reductions are scarce compared to the usual weekly […]
In Quarter 1, 2024, Scottsdale saw a 1% increase in Sold properties compared to Quarter 1, 2023, yet Average Sales prices increased by 9%. Despite this, Inventory rose, offering homebuyers more choices and bargaining power. As we enter Quarter 2, our seasonally strong period for sales, attention turns to potential rate cuts by the Federal […]
In Quarter 1, 2024, Metro Phoenix saw a 6% drop in Sold properties compared to Quarter 1, 2023, yet Average Sales prices increased by 13%. Despite this, Inventory rose, offering homebuyers more choices and bargaining power. As we enter Quarter 2, our seasonally strong period for sales, attention turns to potential rate cuts by the […]
In 2023, the real estate market in Arizona delivered unexpected challenges for home-flipping enthusiasts. According to a report by ATTOM, a prominent real estate data analysis authority, there was a 29.3 percent decrease in the flipping of single-family homes and condos compared to the previous year. This downturn represented the most significant annual drop since […]
Today, on March 20, 2024, the Federal Reserve has again opted to maintain the current interest rates, marking the fifth consecutive meeting without any adjustments. This decision arrives amidst a globally anticipated announcement, underscoring the Fed’s deliberate strategy in the face of a multifaceted economic landscape. Understanding the implications of this decision requires a deeper […]
In a recent Scottsdale City Council meeting, a significant shift in urban development and preservation efforts emerged as Old Town’s building height regulations were revised. Past administrations, particularly former Mayor Jim Lane’s, faced criticism for approving tall buildings, sparking debates among current council members. As the council takes steps to reduce the bonus heights granted […]
In February 2024, Scottsdale’s housing market showed a big increase in property values and demand compared to January. The average home sales price rose to $1,465,679, showing strong market activity and higher property prices. Also, the number of available properties for sale decreased from a 7-month supply in January to a 5.55-month supply in February […]
In February 2024, the Metro Phoenix housing market witnessed a significant increase in sold listings compared to January. Despite this uptick in sales, the average sales price experienced a slight decline to $1,032,410, yet the average price per square foot rose to $379. The inventory of available properties for sale decreased from 6.1 months in […]
Federal Reserve Chair Jerome Powell’s testimony before Congress on Wednesday underscored the central bank’s cautious stance on interest rate cuts despite mounting pressure for monetary easing. Powell reiterated the Fed’s commitment to closely monitoring inflation and economic indicators before considering any adjustments to interest rates. In his prepared remarks to the House Financial Services Committee, […]
Inflation, the relentless specter haunting the economy, has once again defied expectations, casting a shadow over hopes for a swift resolution to its grasp on consumer wallets. According to the latest report from the Labor Department, inflation surged more than anticipated in January 2024, propelled by the unyielding surge in shelter prices, which has become […]
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