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...]
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...]
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...]
“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...]
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