Greater Phoenix Real Estate News, Trends, Insights, and Analysis
Recent Market Updates:
- Greater Phoenix Real Estate Update 7/23/2021Real estate continues to normalize and shift from an extreme seller’s market to a less extreme seller’s market. Both the leading and lagging real estate indicators illustrate a slowly moderating housing market. The numbers show that things are changing, nothing is happening too quickly, so the movement is relatively healthy and going in the right direction. Buyers have more options and sellers are making some concessions.
- Greater Phoenix Real Estate Update 7/9/2021The American economy is big, like nearly $23 trillion big. For perspective, one billion seconds ago it was 1990. One trillion seconds ago was 30,000 BC. The foundation of this giant machine is based on the fundamentals of supply and demand. The price of a loaf of bread, the house down the street, and even 2676 Bayshore Drive (sold for $33.2M in March) is established based on supply and demand.
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.