Traditionally, spring is one of the busiest times of the year for real estate. However, the corona-virus outbreak—and subsequent stay-at-home orders—led many buyers and sellers to put their moving plans on hold. In April, new listings fell nearly 45%, and sales volume fell 15% compared to last year.1 Fortunately, as restrictions have eased, we’ve seen an uptick in market activity. And … [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...]
National Snapshot: What’s Ahead for Real Estate
National Snapshot: What’s Ahead for Real Estate The U.S. unemployment rate is at a 50-year low, and consumer confidence remains high. In fact, the University of Michigan’s latest Surveys of Consumers found that Americans have their most positive personal finance outlook since 2003.1 However, if you follow national news, you’ve probably heard speculation that we could be headed toward a … [Read more...]
What’s Ahead for Real Estate in 2019?
What's ahead for Real Estate in 2019? As we begin another year, everyone wants to know: “Where is the housing market headed in 2019?” It’s not only buyers, sellers, and homeowners who are impacted. The real estate market plays an integral role in the overall U.S. economy. Fortunately, key indicators point toward a stable housing market in 2019 with signs of modest growth. However, shifting … [Read more...]
‘Tis the Season: 5 Reasons Why Winter is a Great Time to Buy or Sell a Home
5 Reasons Why Winter is a Great Time to Buy or Sell a home. It’s a common misconception that you shouldn’t try to buy or sell a home during the fall and winter months. This is generally considered the “off season” in real estate. Many sellers mistakenly believe that the cold weather will keep buyers away and that no one is looking over the holidays. Unfortunately, many real estate professionals … [Read more...]
“How’s the Market?” What’s Ahead for Real Estate
While no one can predict the future with certainty, most experts expect to see modest growth in the U.S. housing market for the remainder of this year and next. Inventory will remain tight, mortgage rates will continue to creep up, and affordability will remain a major issue in many parts of the country. So what does that mean for home buyers and sellers? To answer that question, we take a … [Read more...]
Real Estate 2018: What to Expect
Real Estate 2018: What to Expect As we head into a new year, the most common question we receive is, “What’s the outlook for real estate in 2018?” It’s not just potential buyers and sellers who are curious; homeowners also want reassurance their home’s value is going up. The good news is that a strong U.S. economy, coupled with low unemployment rates, is expected to drive continued real estate … [Read more...]
Real Estate Market Phoenix AZ
The Real Estate Market Phoenix AZ Is good for sellers with low supply of homes for sale and low interest rates. It continues to be more expensive to rent than own a home. This situation is good for homeowners as they see their home values rise and investors who see both their equity and rental income increase. Average Sales Price up 4.3% to $295,800 and Median Prices up 6.6% to $245,000 year … [Read more...]
Real Estate Market Snapshot Greater Phoenix Market Area October 2017
We continue to see a strong seller's market with low supply and low interest rates. Rents continue to increase throughout the valley. It is more expensive to rent than own a home. This situation is good for homeowners as they see their home values rise and investors who see both their equity and rental income increase. Average Sales Price up 4.1% to $291,800 and Median Prices up 5.1% to … [Read more...]
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