The Phoenix Metro area is seeing active inventory drops while demand continues to grow.
Category Archives: AZ Real Estate
Afternoon Bite 6/15/2020 (Video)
Every Monday Amber Kovarik and I discuss the latest in real estate news, stats, and happenings. https://videopress.com/v/RDeaKmKv?posterUrl=https%3A%2F%2Ftheazmarket.com%2Fwp-content%2Fuploads%2F2020%2F06%2Fbite.png&preloadContent=metadata Today’s Takeaways: Inventory is 50.4% under normal.Inventory has decreased by 5% since mid-April.Inventory is 33% down year over year.Demand is 9% below normal. Demand has increased by 11% since mid-April.Prices are going up.In the first 9 days ofContinueContinue reading “Afternoon Bite 6/15/2020 (Video)”
Phoenix Area Real Estate Update 6/12/2020
In 1789 Benjamin Franklin wrote, “In this world, nothing can be said to be certain, except death and taxes.” I suppose we should add his quote to his list as another certainty. Recently some experts were discussing whether or not real estate is going through a recovery right now or not. They asked, how can somethingContinueContinue reading “Phoenix Area Real Estate Update 6/12/2020”
Afternoon Bite 6/8/2020 (Video)
Every Monday Amber Kovarik with Guild Mortgage and I spend 15 minutes (or less) talking about what is currently happening in the real estate market, title, and lending. We give a few key points to share without taking up too much time. https://videopress.com/v/NNz7WMrJ?posterUrl=https%3A%2F%2Ftheazmarket.com%2Fwp-content%2Fuploads%2F2020%2F06%2Fbite.png&preloadContent=metadata Today’s Big Takeaways: May’s job report was way better than predicted. RatherContinueContinue reading “Afternoon Bite 6/8/2020 (Video)”
Phoenix Area Real Estate Update 6/5/2020
Things truly are better than only a few weeks ago; consumer sentiment is up month over month. Things are definitely better than what the headlines read. As David Childers, with KCM, said, “The media often does more to terrify than clarify.” He is right. With all that said, we cannot diminish everything that is happening in our world today.
Phoenix Area Real Estate Update 5/29/2020
The other day I was talking with Tina Tamboer with the Cromford Report and she said, “Real estate is going gangbusters, I don’t think that it got the memo about the world-wide pandemic.” There continues to be increased optimism and momentum in real estate. Even the national economists are talking about the positive movement inContinueContinue reading “Phoenix Area Real Estate Update 5/29/2020”
Candid Conversations with Jenn Newman (video)
Jenn Newman with the Brokery invited me to be a guest on her video series “Candid Conversations.” In this video interview we discuss the COVID-19 pandemic and it’s implications for the Phoenix metro area real estate market. We cover where we are now, supply and demand, what is happening with prices, and our projections forContinueContinue reading “Candid Conversations with Jenn Newman (video)”
Phoenix Area Real Estate Update 5/22/2020
According to the media, the sky is still falling. According to the facts, real estate is gaining momentum and picking up speed. Mid-April was the clear bottom for the housing market, and we have been in recovery mode since. Purchase mortgage applications are down only 1.6% year over year. The new challenge we face todayContinueContinue reading “Phoenix Area Real Estate Update 5/22/2020”
Afternoon Bite 5/18/2020 (Video)
Every Monday Amber Kovarik with Guild Mortgage and I spend 15 minutes (or less) talking about what is currently happening in the real estate market, title, and lending. We give a few key points to share without taking up too much time. https://videopress.com/v/SUf3kpR0?preloadContent=metadata Today’s Big Takeaways: Cromford Market Index, the best leading market indicator weContinueContinue reading “Afternoon Bite 5/18/2020 (Video)”
Phoenix Area Real Estate Update 5/15/2020
Over the past 2 weeks the CEO’s of Realogy, Zillow, Redfin, RE/MAX, Keller Williams, and eXp all stated their confidence in the real estate market and expect continued increases in demand. Sellers are selling and buyers are buying. We are still not out of the woods yet and we do not know what will happenContinueContinue reading “Phoenix Area Real Estate Update 5/15/2020”