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 […]
In the ever-changing world of economics, the Federal Reserve, commonly known as “the Fed,” plays a crucial role as the United States central bank. It is responsible for safeguarding financial stability, managing inflation, and promoting maximum employment. But why should real estate enthusiasts care about the Fed’s actions? Let’s explore this integral component of the […]
Despite a moderate decrease in the number of sold listings, June 2023 proved to be a solid month for home sales in Metro Phoenix. Overall, June 2023 demonstrated positive indicators for home sales in Metro Phoenix, favoring home sellers. The market showcased resilience, with an increase in average sales prices and a decrease in available […]
Brace yourselves, renters! In an astonishing turn of events that has sent shockwaves of relief across households in the United States, the latest report unveils a groundbreaking revelation – median rent prices in the country dipped in May compared to the same month last year. This extraordinary development marks the first time in three years […]
The U.S. housing market is grappling with a pressing issue—plummeting inventory levels that have hit their lowest point in over a decade. This alarming trend, fueled by the lingering impact of the COVID-19 pandemic and high mortgage rates, has created a crisis for homebuyers and sellers. This article will delve into the factors contributing to […]
In a surprising move, the Federal Reserve chose to keep its benchmark interest rate steady at approximately 5.1%, providing a sigh of relief for borrowers across the nation. This decision follows a series of 10 consecutive rate hikes to combat high inflation. The Federal Reserve’s decision suggests their confidence that the significant increase in borrowing […]
The month of April saw demand outpacing supply, shifting focus away from interest rates as the main driver of the market. The balance between supply and demand has shifted in favor of sellers since mid-November, indicating the market correction that caused a major slow down in the fourth quarter of 2022. With all this said, […]
On Wednesday, the Federal Reserve raised interest rates by a quarter percentage point, concluding a 14-month campaign to combat persistent inflation. However, experts believe this may be the final rate hike for the foreseeable future, as a weaker job market and slowing economic growth introduce new uncertainties in the banking sector. The Fed’s statement omitted […]
Overall, the Metro Phoenix real estate market saw some mixed results for March 2023, with a decrease in the number of sold listings and the average sales price. While the increase in inventory may provide more opportunities for buyers, mortgage rates remain in the mid 6’s. In the words of Dave Ramsey, buy the home […]
The recent collapse of Silicon Valley Bank and Signature Bank has complicated the Federal Reserve’s decision to announce a 0.25% increase in the target federal funds rate. These two failed banks have made the decision to hike interest rates more complex. Silicon Valley Bank was forced to sell a bond portfolio at a loss due […]
See photos and updates from listings directly in your feed
Share your favorite listings with friends and family
Save your search and get new listings directly in your mailbox before everybody else
