The very low supply and above normal demand has pushed prices up all year. We have been in an appreciating market for 8 years. Year over year, the greater Phoenix is running at about a 17% appreciation rate. The huge increases have made some people afraid we are in a bubble, however, today’s market is dramatically different. Dr. Lawrence Yun said, “There is no comparison” between today’s market and the bubble from 2004-2006.
Tag Archives: #thisweekinrealestate
This Week in Phoenix Real Estate (video)
No matter what the headlines say, this is not a buyer’s market. With 4 buyers for every listing, we are still very much in a seller’s market.
This Week in Phoenix Real Estate (video)
In this 4 minute video, I talk about the 4 things that happened this week in real estate that you need to know about.
This Week in (Greater Phoenix) Real Estate 11/23/2020
Affordability dropped from Q2 2020 to Q3 2020. Nationally, it decreased from 59.6 to 58.3. Greater Phoenix remains more affordable than the national average but our quarter to quarter decrease was much more significant. We dropped from 64.8 in Q2 2020 to 61.9 in Q3 2020, which means Arizona households earning the median income of $72,300 can afford 61.9% of what is on the market. The median income did not change from Q2 to Q3. (NAHB/Wells Fargo)
This Week in (Greater Phoenix) Real Estate 11/16/2020
In this 8 minute video, Amber Kovarik and I discuss the 5 things you need to know about that happened this week in real estate.
This Week in (Greater Phoenix) Real Estate 11/2/2020
In this 8 minute video, Amber Kovarik and I discuss the latest in real estate and lending. 2020 is outselling the past few years with far less inventory! The numbers are incredible! And as always, be wary of misleading headlines!
This Week in (Greater Phoenix) Real Estate 10/26/2020
In this 14 minute video, Amber Kovarik and I discuss the latest on housing, lending, and the economy. We go into detail on 2020 numbers, supply & demand, future projections in lending, forbearance, delinquencies, and some cool Arizona news!
This Week in (Greater Phoenix) Real Estate 10/19/2020
In this 13 minute video, Amber Kovarik and I discuss the latest on housing, lending, and the economy. We go into detail on supply & demand, future projections, warning for waiting, strategies to help buyers get their offers accepted, equity positions, and more!
This Week in (Greater Phoenix) Real Estate 10/12/2020
In this 20 minute video, Amber Kovarik and I discuss the latest on housing, lending, and the economy. We go into detail on forbearance, obstacles when purchasing after leaving a forbearance program, helping buyers get their offers accepted, delinquencies, unemployment, and supply & demand in real estate. Greater Phoenix has had a 17% appreciation over the past 12 months!
This Week in (Greater Phoenix) Real Estate 10/5/2020
The Fannie Mae Home Purchase Sentiment Index illustrates consumer confidence for buying and selling real estate. According to the most recent update, from August, consumers believe it is a good time to buy. The buyer consumer confidence index has fully recovered to pre-pandemic levels. What is interesting is that seller consumer confidence has not fully recovered. This is seen in our low inventory levels with continued high demand.