Category Archives: National Real Estate

This Week in (Greater Phoenix) Real Estate 4/5/21

There is a lot of talk about the market shifting. It is and this is a good thing. Don’t be nervous when you hear other agents are talking about fewer showings and fewer offers. Going from 30 offers to 5 offers is still great for the seller. Demand is dropping faster than supply. Supply has leveled over the past few weeks, it is still 78% below normal while demand is 11% above normal. As long as demand is higher than supply, prices will go up. The 19-20% appreciation rate we are seeing is not healthy and as people are priced out of the market due to sky-high appreciation, demand will continue to slow. Prices will still go up, just at a slower rate.

Greater Phoenix Real Estate Update 4/2/2021

Real estate disruption is all about creating efficiency. As we lead busier and busier lives, fast and efficient is appealing, right? In theory, buying and selling a property with Amazon-like ease sounds great. In reality, our human condition drives us to desire human input, not just in reading interesting articles but in being able to talk to someone about specifics.

Greater Phoenix Real Estate Update 3/26/2021

The percent of homes with price reductions is currently at record lows at 16.1%. Enough contracts are coming in over-asking which means very few sellers are reducing their asking price. For Realtors working with sellers and potential sellers, the next 3-4 weeks is likely going to be the absolute peak. The rest of the year will continue to have strong buyer demand and increasing prices, but the absolute peak of the demand frenzy is likely happening right now. So now is the time for sellers to get the biggest premium.

Greater Phoenix Real Estate Update 3/19/2021

Once again, today is all about the AZ market. Recently, Lawyers Title hosted a presentation with Tina Tamboer with the Cromford Report. She always shares pertinent and timely information. Below I have combined a lot of her information from her presentation, along with additional information from my research.

Greater Phoenix Real Estate Update 3/12/2021

These companies are spending big money fighting for market share in the strongest sector in the economy. Why? Because US residential real estate is valued at $39.3 trillion, which is nearly double the 2019 US GDP ($21.4 trillion) and it is the nation’s most valuable asset. It is followed by equities at $37.2 trillion and commercial real estate at $20.4 trillion. With so much value in residential real estate and it being an industry that dodged disruption for a long time, Wall Street and Silicon Valley will continue to create and fund disruptors until they can figure out how to turn a profit.

This Week in Greater Phoenix Real Estate 3/1/21

Inventory remains low. Crazy low. Demand, which has been elevated is now dropping faster than inventory. Our demand is now about 19% higher than normal and inventory is over 76% below normal. Prices continue to go up with no end in sight. The limited inventory is the cause of the decreasing number of pending listings each month. We are still running 13% above last year when we had significantly more listings available.

Greater Phoenix Real Estate Update 2/26/2021

While real estate remains local; the big business behind it is anything but. 2021 has seen many mergers and acquisitions and we expect to see many, many more this year. The journey towards the undefined end-to-end platform continues on, gaining speed in the form of millions and billions of dollars.

What is end to end? Is it buying a house with a click of a button? Is it bundling real estate, title, and mortgage services from one company? Is it the Zestimate value as the offer amount? Real estate isn’t a grass roots industry anymore.