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Greater Phoenix Real Estate News, Trends, Insights, and Analysis
Recent Market Updates:
- Greater Phoenix Real Estate Market Update 5/20/2022In light of all of chaos and headlines, it is imperative to focus on what is going on right now. As difficult as it might be to avoid predictions, that is what is necessary. The market is shifting quickly and it is dangerous to make assumptions. The best way to service today’s home buyers and sellers is to guide them through our current market.
- Greater Phoenix Real Estate Market Update 4/29/2022The market is indeed softening, locally no doubt, nationally – it is just becoming visible. The AZ market had a four-week head start. The pressure on affordability hit nationally last week when we saw purchase mortgage applications decline by 17% year over year. 2014 was the last year total housing inventory increased (this is true both locally and nationally). Currently, inventory is up 19% in a month.
The real estate industry is always changing; today faster than ever before. We have brokerages valued in the billions; iBuyers; bombshell lawsuits (more have been filed); downward pressures on commissions; skyrocketing home values; dated systems, a global pandemic; historic low-interest rates; and an ever-shrinking inventory. It is a lot to keep track of. My market updates cover local and national real estate & economic news, trends, and data along with my own insights and analysis. ~Sarah Perkins