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...]
2021 Remarkable Year For Real Estate In The Greater Phoenix Metro Market
2021 Remarkable Year For Real Estate in the Greater Phoenix Metro Market! 2021 Saw the Highest Sales Volume in our history according to ARMLS Statistics. (Arizona Regional Multiple Listing Service) Despite being in the second year of the pandemic our real estate market continued to set records! ARMLS STAT: 2021 in Review. 2021 Remarkable Year For Real Estate "We began 2021 in the throes of a … [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...]
Phoenix Real Estate Continues To Set Records In 1st Quarter of 2021
Phoenix Real Estate continues to set Records in 1st Quarter of 2021. Sales of residential real estate outpaces 2020, which was an exceptional year for real estate. Our market is blustering hot! "What is causing this blistering feat? We need to look no further than hysterically low inventories, where active listings (excluding UCB *Home under contract accepting backup offers and … [Read more...]
2020 Remarkable Year For Real Estate In Phoenix Market! What’s Next in 2021
2020 Remarkable Year For Real Estate In Phoenix Market exceeding all expectations! Despite all the challenges we faced the year was transformed into the most successful sales year in ARMLS history. (Arizona Regional Multiple Listing Service) "A strong first quarter was followed with a 27.1% year-over-year drop in sales volume in April and a 33.7% drop in May. Historically, April and May are in … [Read more...]
The New Normal: A Strong Housing Market Expected to Continue into 2021
“2020 will be known for a lot of things, and a record-breaking year for real estate will certainly be one of its more unexpected legacies,” prominent economist Daryl Fairweather said.1 And he’s right: most of us would have expected the housing market to suffer from circumstances like a once-in-a-hundred-years pandemic and historic inventory shortages. But, rather than a slowdown, we are … [Read more...]
2020 Outlook: Real Estate Market Forecast
We’re in the midst of the longest economic expansion in U.S. history, and economists think there’s still room to grow. A recent survey by the National Association for Business Economics found that experts believe the U.S. economy will remain positive throughout 2020.1 Still, given that recessions are a natural (and necessary) part of a business cycle, we know this period of growth will … [Read more...]
Mortgage Limits Increase For 2020!
Here is a quick update on the official Mortgage Limits changes for 2020! "Conventional – new limits for all loans delivered after 1/1/2020 will be $510,400 (whoo hoo!!!) This means First time home buyers using (3% down payment) can buy at a maximum purchase price of $526,185 5% down Owner Occupant Buyers can buy at a maximum purchase price of $537,263 FHA made their official announcement and … [Read more...]
What’s Your Home Actually Worth? Discover What Buyers Will Pay in Today’s Market
What’s Your Home Actually Worth? Discover What Buyers Will Pay in Today’s Market. It’s easy to look up how much money you have in your savings account or the real-time value of your stock investments. But determining the dollar value of a home is trickier. As a seller, knowing your home’s worth helps you price it correctly when you put it up for sale. If you price it too high, it may sit on … [Read more...]
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