Last year, many homeowners thought twice about selling their houses due to the onset of the health crisis. This year, however, homeowners are beginning to regain their confidence when it comes to selling safely. The latest Home Purchase Sentiment Index (HPSI) by Fannie Mae shows that 57% of consumers believe now is a good time
Will Low Mortgage Rates Continue through 2021?
With mortgage interest rates hitting record lows so many times recently, some are wondering if we’ll see low rates continue throughout 2021, or if they’ll start to rise. Recently, Freddie Mac released their quarterly forecast, noting: “The average 30-year fixed-rate mortgage hit a record low over a dozen times in 2020 and the low interest rate environment is projected to continue
2021 Housing Bubble Ready to Pop?
3 Reasons We’re Definitely Not in a Housing Bubble Home values appreciated by about ten percent in 2020, and they’re forecast to appreciate by about five percent this year. This has some voicing concern that we may be in another housing bubble like the one we experienced a little over a decade ago. Here are
January 2021 Phoenix Real Estate Market Report
2020 Broke the Record for Luxury Sales Supply Down 51%, Slim Pickings in 2021 For Buyers: There were 111,036 new listings added to the Arizona Regional MLS (ARMLS) in 2020, only 38 more than 2019, while 100,650 sold. As of January 10th, 2021 there were only 6,162 listings still active in the MLS, which is
November 2020 Phoenix Real Estate Market Update
November 2020 Market Update courtesy of Cromford Report — Demand for Homes Up 36%! — Rents up 17% Since April! Here are the basics for November 1, 2020 compared with November 1, 2019 for all areas & types: Active Listings: 8,682 versus 14,525 last year – down 40.2% – but up 7.4% from 8,101 last month
Phoenix Metro Real Estate Market Report July 2020
Market Summary for the Beginning of July Top 5 Cities Selling Over Asking Price Contracts Accepted in 8 Days or Less Under $400K Here are the basics – the ARMLS numbers for July 1, 2020 compared with July 1, 2019 for all areas & types: Active Listings: 8,788 versus 15,422 last year – down 43.2% –
March 2020 Phoenix Real Estate Market Report
Officially a Frenzy: 11% More Contracts Than Listings For Sale Contracts Over $1M up 60% Over Last Year Market Summary for the Beginning of March The supply situation is even more extreme than last month. Rapidly rising prices have done little to dampen demand. Here are the basics – the ARMLS numbers for March 1,
January 2020 Phoenix Real Estate Market Report
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
