Greater Phoenix Real Estate News, Trends, Insights, and Analysis
Recent Market Updates:
- Greater Phoenix Real Estate Update 4/16/2021Despite our fear of change, humans are quite resilient and are far more flexible than we realize. Quite often, change is good. Demand is declining and seasonality is beginning to emerge in the market. I am hearing stories about an FHA buyer who finally had a contract accepted and a seller who agreed to a few concessions. This is good news for our exhausted buyers; they need some wins too. This is how the machine is supposed to work.
- Greater Phoenix Real Estate Update 4/9/2021Now, this is a headline that says it all, “Who’s Lying About The Housing Market? The housing market is heating and cooling at the same time, depending on the data in question. Who’s telling the truth? Actually, maybe everyone…” Author, Matthew Graham explains that prices are appreciating faster than they have in 15 years, homes are selling in minutes, and bidding wars are commonplace all while demand is actually falling. Demand was THAT high and remains above normal.
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 (Did COVID slow the rise?); 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.