Market Report

Mortgage Rates: We’ve Had Worse Home Prices are Stable, Payments are Volatile For Buyers The best description for the housing market vibe this month is disappointment. Average mortgage rates are front and center again, and not in a good way. After hove

Payments Drop 12%, Monthly Sales Up As the Market Turns: Could a Recession be Good for Housing? For Buyers Be aware, the market is turning. Reading the Cromford® Market Index (CMI) for Greater Phoenix, a measure under 90 is a buyer’s market and 90-110

Phoenix Buyer Market – Aaaand It’s Gone Median Price Down $65,000 Since May For Buyers: Last year, traditional buyers took a back seat to an influx of cash investors and speculators who outbid them. Then mortgage rates increased and suppressed their po

MLS Supply Up 113% Over Last Year Median Days Prior to Contract Rising For Buyers: Market conditions continue to get better for buyers undeterred by rising mortgage rates.  Over the last 10 weeks, there has been a surge of new listings in every price p

MLS Supply Up 45% in 6 Weeks Rising Interest Rates Dropping Demand Quickly For Buyers: It’s the moment you’ve been waiting for, less competition and more supply in Greater Phoenix! Active supply is up 40% from this time last year, but all that gain has

57% of Sales are Over Asking Price Median Sale Price Up 27% to $457,000 For Buyers: Supply is still the top concern for buyers these days and we continue to look to new construction to add new homes and ease the pressure on price. The top areas for new