The Scottsdale single-family home market in July 2024 showed a cooling trend compared to June. Sold home prices experienced a modest decline all the while properties sold slightly quicker, suggesting a more active market. The number of homes sold also dropped month over month. Additionally, the inventory of available homes decreased, which could lead to […]
The Metro Phoenix real estate market experienced a cooling period from June to July 2024. Home prices dropped significantly and had longer days on market which suggests more cautious buyers, and sellers having to settle for offers below the list price. Sold homes decreased; however, the available homes for sale increased significantly, providing a more […]
As the 2024 Presidential election approaches, many prospective homebuyers and sellers are curious about how this major event might impact their decisions. Understanding the historical trends and potential effects of presidential elections on the housing market can provide valuable insights for navigating these uncertain times. We’ll also explore some potential scenarios and their impact on […]
As the cost of living continues to soar, the need for affordable housing has reached a critical point. A new proposal offers hope by restricting rent increases to at most 5% annually. The plan, which calls on Congress to pass a law that would withdraw tax credits from landlords who exceed this limit, targets landlords […]
Given the 6% decrease in sold listings and the 18% increase in inventory, the Scottsdale housing market may face short term pressure on transaction volumes in the coming months. However, the significant 11% rise in the average sales price and the increase in the average price per square foot indicate strong market values. With mortgage […]
The Metro Phoenix housing market experienced a notable shift in the 2nd Quarter of 2024, as the number of sold listings decreased by 7% and inventory shifted significantly by 24%. Yet despite the decrease in transactions, the average sales price climbed by 3%. Given these numbers, we may continue to see pressure on transaction volumes […]
In a significant development for potential homebuyers, mortgage rates have recently seen a downward trend. This shift could bring positive news for the housing market in 2024. Today, the average 30-year fixed mortgage interest rate is 7.00%, marking a slight decrease of 0.02% compared to the previous week. On the other hand, the 15-year fixed […]
In a much-anticipated announcement, the Federal Reserve decided to keep its key interest rate unchanged while signaling just one rate cut expected before the end of the year. This decision, revealed after the two-day Federal Open Market Committee (FOMC) meeting, may not be as aggressive as some had hoped. However, it could potentially stimulate economic […]
Your vacant home may feel like one less thing to take care of, but leaving a property unoccupied can lead to significant risks and potential liabilities. Most typical homeowner policies won’t provide full coverage for the property once it’s been vacated. Vacant home insurance is a specialized type of insurance policy designed to protect properties […]
Despite a 13% decrease in sold properties, the average sales price increased modestly by 1%, while the average price per square foot remained stable, indicating consistent pricing dynamics. The rise in available homes for sale suggests a shift toward a more balanced market. However, with interest rates dropping below 7% and the Scottsdale home selling […]
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