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
Have You Outgrown Your Starter Home?
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
July 2018 Phoenix Real Estate Market Report
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.
Rent or Buy: Either Way You’re Paying A Mortgage!
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
June 2018 Phoenix Real Estate Market Report
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
May 2018 Phoenix Real Estate Report
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
April 2018 Phoenix Real Estate Market Report
MLS Sales Outperform non-MLS Sales in Frenzy Market Supply Under $200K Down 36% Over Last Year For Buyers: Greater Phoenix ended the 1st Quarter 13% lower in supply, which was not helped by a 2% decline in new listings entering the market. All price ranges are below last year’s level of supply with the exception
March 2018 Phoenix Real Estate Market Report
Median Sale Price up $20,000 over March 2017 17% of Sales are Closing Over Asking Price For Buyers: The percentage of seller concessions awarded to buyers has dropped down to 24% in the first quarter of 2018 after 2.5 years of consistently landing between 26%-28%, yet another indicator of dwindling buyer negotiating power in a
