As Arizona continues to attract new residents at an astonishing rate, the state’s housing shortage has reached crisis levels. The allure of Arizona’s quality of life, low cost of living, favorable climate, and simplified tax structure has led to a significant influx of people and businesses. However, this population growth has not been met with […]
The world of mortgage rates is a complex web of economic indicators, policy decisions, and global events. One recent event that has notably impacted mortgage rates is the Israeli-Hamas conflict. This article will explore how this conflict affects mortgage rates and why investors seek safer assets, such as mortgage-backed securities, leading to lower rates for […]
A growing number of sellers are becoming more flexible with their initial asking prices. Recent reports indicate that in September, approximately 9.2% of home listings experienced a reduction in their listed prices. This trend is increasingly creating opportunities for prospective buyers, provided they can overlook the impact of interest rates. The market boasts a higher […]
A growing number of sellers are becoming more flexible with their initial asking prices. Recent reports indicate that in September, approximately 9.2% of home listings experienced a reduction in their listed prices. This trend is increasingly creating opportunities for prospective buyers, provided they can overlook the impact of interest rates. The market boasts a higher […]
There’s good news in the Scottsdale housing market: the Average Sales Price has risen by 1% to a comfortable $1,362,950, equating to a $451 Average Price Per Square Foot. Additionally, inventory has decreased to 3.83 months’ worth of properties for sale, signaling a move toward a balanced market. While mortgage rates have hovered above 7%, […]
The Metro Phoenix market saw a 3% drop in the Average Sales Price, now at $965,455, leading to a $357 Average Price Per Square Foot. Inventory increased slightly to 3.47 month’s worth of properties for sale. When the 30-year fixed mortgage rate stays above 7%, demand for resale homes is so weak that more is […]
The rising tide of home prices in the United States has prompted a scramble for answers, and one factor often thrust into the spotlight is the influence of Airbnb short-term rentals. This contentious issue resonates strongly in the housing markets of Scottsdale and Phoenix, Arizona. While these rentals seem the apparent culprit behind housing shortages, […]
June was a little low with single-family New Home sales, but July bounced back with a 4.4% jump upwards! Median sale prices took a 12.1% dip from the high last year, which is certainly good news for Buyers. Existing home sales were slightly down, retreating by 2.2% from June to July. Why, you ask? The […]
The Scottsdale housing market for July 2023 indicates a decline in sold listings and average sales prices for the 2nd consecutive month, with an increase in inventory. However, U.S. property values are up in all regions except for the West and Mountain, which serve as lead indicators for market trends. It remains to be seen […]
The Metro-Phoenix housing market for July 2023 indicates a decline in sold listings and average sales prices for the 2nd consecutive month, with an increase in inventory. However, U.S. property values are up in all regions except for the West and Mountain, which serve as lead indicators for market trends. It remains to be seen […]
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