Arizona's Finest Real Estate Blog

Increased Demand in Q2 Resulted in Strengthening the Seller Market After a Full 7 Months of Decline. For Sellers:Low interest rates are continuing to fuel buyer demand and there are now 2.5% more listings under contract today than there were last ...

Listings Under Contract Up 19% in 5 Weeks!Mortgage Payments Drop $50 per Month on a Median Priced HomeFor Buyers:Buyers got a break last month as 30-year mortgage rates dropped significantly from an average of 4.41% to 4.08%, which is the lowest ...

List Price Reductions up 24% in Greater Phoenix, Up 42% in Some AreasSellers: Stop Trying to Time the Market For Buyers:A weak 4th quarter for sales in 2018 has resulted in 11,874 price reductions in the first 5 weeks of 2019.  That’s ...

Greater Phoenix Buyer Contracts Down 15%It’s Still a Good Time to Sell… For Now For Buyers:The monthly average interest rate rose to 4.64% in December 2018, up 0.69% from the previous December’s 3.95%. For buyers who will ...

Seasonally, This is the Calm Before the Storm for Buyer ActivityGreater Phoenix Demand Down 16% in Q4The 4th Quarter is Seasonally the Best Time to be a Buyer For Buyers:Remember when you would not eat your dinner as a kid and your parents would ...

New Listings Up 18% in October between $250K-$400K The 4th Quarter is Seasonally the Best Time to be a Buyer For Buyers:Seasonally the 4th Quarter is the best time to be a buyer and this year is no exception.  Typically buyer contract activity ...

Seller Concessions Spike on Listings Sold Between $200K-$250K Price Reductions up 27% on Active Listings Between $250K-$400K For Buyers: October marks the 4th month in a row that supply has continued to rise between $200K - $400K, which is good ...

Supply Continues to Rise in the MiddleSeller Price Reductions up 46% and 61% in these Price Ranges For Buyers:Overall supply is down 9.6% compared to last September.  At first glance that’s nothing new.  However, for those of you ...

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 ...

Cost of Waiting to Buy Means Less Closet Space or Higher PaymentMore 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; ...

Good Morning,  I hope you had a great weekend.  RATE MOVEMENT (from prior week) – NO CHANGE  There were few surprises in the data released last week or in the other economic news.  It was a quiet week, and mortgage rates ...

Good Morning, I hope you had a great weekend. RATE MOVEMENT (from prior week) – NO CHANGE After the prior week’s packed economic calendar, last week there was virtually no significant news except for some housing market data.  It ...

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 ...

Good Morning, I hope you had a great weekend. RATE MOVEMENT (from prior week) - HIGHER Following the prior week's stronger than expected labor market and manufacturing data, the reports released last week continued to suggest that the economy is ...

Good Morning, I hope you had a great week.    RATE MOVEMENT (from prior week) - SLIGHTLY LOWER News from Italy was positive for mortgage rates last week. However, this was partially offset by stronger than expected U.S. labor market data. ...

Good Morning, I hope you had a great week.    RATE MOVEMENT (from prior week)  - SLIGHTLY LOWER Geopolitical events related to Italy and North Korea were the primary influences on mortgage rates last week.  The U.S. economic ...

Good Morning, I hope you had a great weekend.   RATE MOVEMENT (from prior week)  HIGHER!  **Rates are at a 7 Year High!** The market moving economic news last week was viewed as negative for mortgage rates.  This time the ...

Summer is a good time to List Luxury Properties over $500KSupply between $175K-$200K dropped 18% in 3 WeeksFor Buyers: Supply under $200K has continued to drop rapidly, but the $175K-$200K range has accelerated its decline over the past month ...

   RATE MOVEMENT (from prior week) - UNCHANGED Mortgage rates climbed higher during the first half of last week, then reversed direction during the second half to end nearly unchanged.  The movement didn't necessarily correlate ...