Market Update

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; ...

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 ...

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 ...

MLS Sales Outperform non-MLS Sales in Frenzy Market Supply Supply Under $200K Down 36% Over Last YearFor Buyers: Greater Phoenix ended the 1st Quarter 13% lower in supply, which was not helped by a 2% decline in new listings entering the ...

Median Sale Price up $20,000 over March 2017 17% of Sales are Closing Over Asking PriceFor 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 ...