The Inventory of homes for sale is finally rising from 30 days or less supply to over 3 months. The frenzied pace of 2020 and 2021 is finally calming down. There were more homes for sale last week than the same week in 2019. Keep in mind the 2019 was a strong seller's market. "According to NAR statistics, the median real-estate experience of all Realtors is eight years. The last time we … [Read more...]
Housing Market Nationally And Metro Phoenix Real Estate
Since the beginning of the Covid-19 pandemic in 2020 and 2021 Real Estate saw double digit appreciation in home values. Mortgage Interest Rates on a 30 year fixed rate reached the lowest level in December 2020 at 2.68% with the annual average rate of 3.11% according to Freddie Mac and 2021 averaged of 2.96%. Rates bounced above and below 3% during this time. Federal Reserve Chairman Powel … [Read more...]
Greater Metro Phoenix Real Estate Market News|Equity Growth
The Average U.S Homeowner Gained $56,700 In Equity Growth Over The Past Year (Statistics through 3rd Quarter of 2021 Arizona Home Owners Gained Even More Equity Growth Of $92,000. Only California, Washington, and Hawaii had larger gains. Home Equity Is The Difference Between The Current Value Your Home Minus Your Mortgage(s) Debt. For Example, Your Mortgage Debt is $300,000 and The Home Is … [Read more...]
Greater Phoenix Metro Area Real Estate Market News
“I’m a greater believer in luck, and I find the harder I work the more I have of it,” Thomas Jefferson Years ago, until I was in the market to buy my first home I was not paying attention to real estate prices, inventory or interest rates. Once I became an active buyer I was very aware of what was happening in my local market. Shortly after I bought my first home I became a real estate … [Read more...]
Take Advantage of Your Home Equity: A Homeowner’s Guide
Home ownership offers many advantages over renting, including a stable living environment, predictable monthly payments, and the freedom to make modifications. Neighborhoods with high rates of homeownership have less crime and more civic engagement. Additionally, studies show that homeowners are happier and healthier than renters, and their children do better in school.1 But one of the biggest … [Read more...]
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