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 […]
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 […]
For both buyers and sellers, the good news is that mortgage rates have steadily declined since last October and are expected to remain in the mid-6% range for 2024. While higher than the record lows of 2020 and ’21, they still fall below the historical average of 7.74%. This, along with increased inventory, signals the […]
One question persists in the minds of those considering a move in today’s housing market: Why is it so hard to find a house to buy? Waiting for more options might seem tempting, but the reality is that it’s not the best strategy. Let’s delve into the underlying factors contributing to the low housing inventory […]
In a world in constant flux, investors, homeowners, and everyday consumers are finding solace in the steady hand of Jerome Powell, Chair of the Federal Reserve. The recent decision by the Fed to keep its benchmark interest rate unchanged comes as no surprise, given Powell’s well-established reputation for caution and deliberate decision-making. March Meeting: No […]
As we embark on the journey of a new year, the real estate market remains a hot topic of discussion. The year 2023 was marked by the “mortgage rate lock-in effect,” which brought about significant shifts in the housing landscape. This article will explore what experts predict for the 2024 real estate market, specifically focusing […]
A 13% decrease in SOLD properties reflects reduced demand and market activity. Despite this decline, the Average Sales Price Increased by a modest 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 […]
In a recent meeting of the US Federal Reserve’s Monetary Policy Committee on December 13, 2023, Chairman Jerome Powell announced a decision to maintain the current interest rate levels for the third consecutive meeting. This decision was accompanied by a signal that the Fed expects to make three rate cuts next year, suggesting a possible […]
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