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.
Category Archives: Weekly Market Update
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”
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”
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”
Phoenix Area Real Estate Update 5/8/2020
We now have 3 weeks of data showing the very beginning of a trend! I am happy to report that these emerging trends are positive. Please continue sharing this good news with your clients. Right now there is a battle between the media and consumer sentiment. Unfortunately for the media, good news doesn’t sell, however,ContinueContinue reading “Phoenix Area Real Estate Update 5/8/2020”
Phoenix Area Real Estate Update 5/1/2020
The light at the end of the tunnel got a little brighter this week. Despite the limited data available, new trends are emerging and they are good. Please continue to share this news with your clients because consumer sentiment is everything. The week of April 19th marked a noticeable shift in the market with increasedContinueContinue reading “Phoenix Area Real Estate Update 5/1/2020”
Phoenix Area Real Estate Update 4/24/2020
The real estate market continues to move forward at varying speeds across the country. The lack of current data continues to make it difficult to draw a complete picture of our market. Again, I encourage everyone to be very mindful about their news consumption; a lot of it is very negative and very skewed. RememberContinueContinue reading “Phoenix Area Real Estate Update 4/24/2020”
Phoenix Area Real Estate Update 4/17/2020
As someone who loves to analyze real estate activity, the recent events have definitely thrown a wrench in how we analyze the data. In a day when more information is available than ever before, we keep running into one consistent truth, there still simply isn’t enough data available to give us a decent expectation forContinueContinue reading “Phoenix Area Real Estate Update 4/17/2020”
Phoenix Area Real Estate Update 4/10/2020
The other day I was talking with a national real estate analyst and he has evidence that new listings hitting the market in March in the hardest hit areas in the country like Seattle, NYC, and some metro areas in California decreased anywhere between 50-80%. The rest of the country is feeling the decrease toContinueContinue reading “Phoenix Area Real Estate Update 4/10/2020”