Sensationalism in the news media hurts consumer sentiment. Consumer sentiment has the greatest impact on the market and the economy as a whole. As much as we value our individualism and our ability to think for ourselves, we are heavily influenced by the decisions and actions of others.
Tag Archives: #cleartitle
AZ Dealmakers Update
I recently had the privilege of attending the AZ Dealmakers event on January 27, 2022. It is an event that includes industry leaders in the residential new construction arena. The presenters included economists, housing analysts, builders, lenders, and more. The conversation was all about the future of new home development in Arizona. These are my notes and takeaways from the event.
Greater Phoenix Real Estate Update 2/4/2022
Inventory is still declining, demand remains consistent, and prices are still increasing. There is no relief in sight. The anticipated January inventory increase never materialized. The expected foreclosure boom didn’t come. The builders are constrained as ever. Mortgage rates are up. Something has to give, but what and when? Our buyers are exhausted and potential sellers don’t know where they will go when they sell.
Greater Phoenix Real Estate Update 1/7/2022
“Buy land, they’re not making it anymore.” ~Mark Twain On June 19, 2020 I wrote, “Econ 101 taught us about supply and demand. To measure the health of the real estate market we look at new listings AKA supply, and new pendings AKA demand. When demand out paces supply, prices go up. This has beenContinueContinue reading “Greater Phoenix Real Estate Update 1/7/2022”
Greater Phoenix Real Estate Update 12/17/2021
Remember at the beginning of the year we hoped for answers and less political strife? Whether or not those were accomplished remains to be seen but one thing is for sure, 2021 was a year of records. Nationally, median sales prices peaked, for sale inventory bottomed, average days on market bottomed, over-asking price sales peaked, mortgage rates hit all-time lows, and second home demand surged.
Greater Phoenix Real Estate Update 12/10/2021
When you are asked, “How is the market?” what do you say? Is it a great time to buy? Is it a great time to sell? Is it a great time to be a homeowner? I would say yes to all of those. The data supports the continued growth, continued strength, and continued appreciation – just at a slower rate.
Greater Phoenix Real Estate Update 12/3/2021
Yesterday I had lunch with three of Greater Phoenix’s premier real estate analysts. As the conversation moved from appreciation rates to price reductions to data quality to seasonality, the question kept coming up, “What do you think will happen in 2022?” It is forecast season after all. Time to reflect on the year that was and plan for the year ahead.