Market Summary for the Beginning of 2020 Courtesy of The Cromford Report The current situation is remarkable. Here are the basics – the ARMLS numbers for January 1, 2020 compared with January 1, 2019 for all areas & types: Active Listings: 12,141 versus 17,339 last year – down 30.0% – and down 12.5% from 13,869 last
There are many conflicting headlines when it comes to describing today’s real estate market. Some are making comparisons to the market we experienced 10 years ago and are starting to believe that we may be doomed to repeat ourselves. Others are just plain wrong when it comes to what it takes to qualify for a
Supply between $200K-$250K has Risen 8.1% since May Seller Price Reductions Up 7% in Popular Price Range For Buyers: If your budget lies somewhere between $200,000 and $400,000 for a home, there’s good news for you. Supply between $200,000 and $250,000 has been rising gradually over the past 12 weeks. After dropping 15% from 2,300
For many Americans, buying their first home is their first taste of achieving part of the American Dream. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment. It may seem hard to imagine that the first home you purchased (which
Cost of Waiting to Buy Means Less Closet Space or Higher Payment More New Homes Sell in Low $200’s This Year For Buyers: Hearing cries for more affordable housing supply, developers have sold more new homes in the low $200’s this year; selling 35% more than they did last year within the same time frame.
There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s. As Entrepreneur Magazine, a premier source for small business, explained in their article, “12
Is Greater Phoenix “Overvalued”? Mortgage Payments Are Lower Than They Were 13 Years Ago For Buyers: Interest rates have been increasing along with the inflation rate as of late, which has spawned a string of headlines about affordability. While the rate hike has knocked some buyers out of the market without a doubt, general affordability
Supply between $175K-$200K dropped 18% in 3 Weeks Summer is a good time to List Luxury Properties over $500K For Buyers: Supply under $200K has continued to drop rapidly, but the $175K-$200K range has accelerated its decline over the past month far more dramatically than any other price range. After being consistently 30-35% below last